Canfax Weekly Article: Report for the week of October 13, 2026

The Alberta fed market looks to have established a bottom after grinding lower for several weeks. Last week, weighted average fed steers and heifers were steady to $1.00/cwt higher. Dressed sales were reported from $495.00–$500.00/cwt delivered, steady with the previous week. Delivery is scheduled throughout November. Western Canadian steer carcass weights have ranged from 970–982 pounds over the past four weeks and are back to January and April highs. Slaughter rates have started to pick up. The Western Canadian fed market looks to be consolidating for a fourth quarter rally. The 10-year index suggests a 4 per cent rally between now and the end of the year, putting Alberta fed steers near $311.00/cwt by the end of December.

The fall calf run has been slow to get underway, while yearlings continue to come to market. This week, at many auction facilities and electronic sales, roughly 40–50 per cent of the offering were yearlings. From an observation standpoint, the weak spot in the market seems to be backgrounded heifers. Over the past month, the largest price increase has been in 500–600 pound steer/heifer calves, with prices up $30.00–$35.00/cwt. The calf market has made a counter-seasonal move higher as cash moves toward forward delivery prices.

Alberta D2 cows rebounded despite seasonal pressure, trading $5.00/cwt higher than the previous week. D2 cows have traded stronger for three consecutive weeks. Feeder cows closed the week at $236.00/cwt, up $7.00/cwt. Butcher bulls closed the week $3.00/cwt higher and have traded sideways in the mid-to-low $230s/cwt for the past four weeks. Railgrade cows were steady, ranging from $380.00–$400.00/cwt. In Ontario, cull cows were unable to hold onto momentum from the second half of September. D2 cows closed the week $15.50/cwt lower than last week, with D2 cows easing $6.00/cwt lower.

Bull

• Summer 2027 live cattle futures are providing support to the calf market.
• Alberta fed cattle prices appear to have established a bottom.
• Seasonally, cutout values tend to move sideways in October before finding modest support heading into November.

Bear

• Elevated front-end supplies remain a concern. The September cattle on feed report estimated the number of cattle on feed 120+ days to be the largest on record for September.
• Feeder cattle weighing over 700 pounds face seasonal downside price risk from October through December.
• Western Canadian steer carcass weights are back to January and April highs.