Canfax Weekly Article | Report for the week of March 23, 2026

Eastern and Western Canadian fed prices have been moving in opposite directions as of late. Eastern Canadian fed prices were the lowest seen this year, while Western Canadian fed prices established new record highs. Last week, light to moderate trade was reported with dressed sales at $540.00/cwt delivered. Cattle that traded were scheduled for early April delivery. Over the past two weeks, Alberta fed prices have been trading par, to a slight premium against the Nebraska market. Western Canadian steer carcass weights are reported at 949 pounds, the smallest since September.

Last week, Alberta auction volumes were 22,530 head, up 58 per cent from last year, but 17 per cent below the five-year average. The feeder market remained under pressure. Canfax average feeder steer and heifer prices closed the week $7-9/cwt lower. When compared to Ontario, Alberta 550 pound steers were trading at a $57/cwt premium, the smallest since the second half of January. Similarly, Alberta 850 pound steers and heifers were also down $13-17/cwt from their record highs and have been moving counter-seasonally lower over the past four weeks. For the week ending March 7th, Canadian feeder cattle exports to the U.S. were 3,052 head, up 154 per cent from last year. The biggest weekly export volume since July 2025. YTD exports remain 46 per cent below last year with more feeders staying in Canada.

Last week, Alberta D2 and D3 cows were up either side of $1/cwt from the previous week, butcher bulls and feeder cows were up $2-3/cwt. Railgrade cows ranged from $430-440/cwt. YTD, Alberta D2 cows have been priced at 73 per cent of a fed steer, up from 71 per cent during the same period last year, with the three-year average at 63 per cent. For the week ending March 13th, Western Canadian cow slaughter totaled 6,051 head, down 2 per cent from last year and the smallest volume for the first half of March since 2015.

Bull

• Western Canadian fed prices established new record highs and were trading par, to a slight premium against the Nebraska market
• Choice cutouts closed the week just above $400/cwt, $16/cwt shy of last year’s peak
• The nearby feeder cattle contract closed last Friday at $357.75/cwt, rebounding $9.53/cwt from the low on March 12th

Bear

• The feeder market has been under pressure for two consecutive weeks
• Lethbridge barley, wheat and corn were trading at their annual highs
• USDA March 1st cattle on feed report is slightly bearish as feedlot placements came in above pre-report estimates