Canfax Weekly Article | Report for the week of February 9, 2026

Alberta weighted average fed steers and heifers averaged on either side of $306.00/cwt, the highest point since early October. Dressed sales ranged from $515.00–517.00/cwt delivered. Cattle that traded were scheduled anywhere from immediate to the first half of March delivery. Buying interest was noted from all Western Canadian packers, and U.S. buying interest was also supportive. Western Canadian packers continue to run reduced hours. For the week ending January 31st, Western Canadian fed slaughter was just over 34,000 head, 12 per cent below last year. For the end of January, this is the smallest slaughter since 2019.

Last week, Alberta auction volumes were 24,784 head, down 10 per cent from last year and the smallest since 2021. January monthly volume was 91,786 head, down 8 per cent from last year. The feeder market continued to see strong prices across all weight categories with good interest from grass buyers. Canfax average feeder steers closed the week $5.00–6.00/cwt stronger than the previous week. For the week ending January 24th, Canadian feeder cattle exports to the U.S. were 1,974 head, down 39 per cent from last year. For January, weekly exports were the smallest since 2021.

Last week, Alberta D2 and D3 cows through commercial auction facilities traded steady to $2.00–4.00/cwt stronger than the previous week. Feeder cows climbed $3.00/cwt, while butcher bulls were up $1.00/cwt. Railgrade cows were $5.00/cwt stronger than last week. For the month of January, Alberta D2 cows averaged $220.50/cwt, a slight $2.00/cwt discount to U.S. utility cows, but a $33.00/cwt premium against the Ontario market. Western Canadian cow slaughter for the week ending January 31st was 6,457 head, down 16 per cent from the same week last year. Western Canadian cow slaughter (FI only) for the month of January, at 25,400 head, was the smallest since 2005.

Bull

• Grass buyers continued to be active on the feeder market
• Fed prices have rallied $20.00/cwt over the past two months
• Western Canadian slaughter is 12 per cent below last year

Bear

• Western Canadian packers continued to run reduced hours
• Union workers at the JBS plant in Greeley, Colorado have voted in favour of strike action
• CUSMA is up for review beginning in July 2026; increasing volatility is expected as each country maneuvers to put itself in the best negotiating position possible.