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

Alberta weighted fed steers and heifers closed the week at $321.00 and $319.00/cwt respectively, $1.00/cwt stronger than the previous week. This is the smallest week-over-week rally since January. Dressed sales were reported from $535.00–539.00/cwt delivered, $4.00–5.00/cwt stronger. Cattle that traded were scheduled from immediate to early April delivery. This is the second consecutive week that Alberta held a premium over Ontario. For the week ending February 28th, Western Canadian fed slaughter was 35,167 head, up 6 per cent from last year. For the month of February, Western Canadian fed slaughter was 140,057 head, steady with last year and down 11.5 per cent from the five-year average.

Last week, Alberta auction volumes were just over 27,000 head, one of the smaller first half of March volumes on record going back 20 years. Alberta feeder prices stepped back to take a breather this week. Canfax average feeder steers and heifers closed $1.00–4.00/cwt from the previous week. Spring buying for the summer 2026 grazing season should soon begin to pick up. This week, the forward delivery market was lightly tested. One lot of 6-weight heifers for May delivery brought $611.00/cwt based at 625 pounds, a $33.00/cwt premium to this week’s cash market.

Last week, butcher cows traded $1.00/cwt higher, averaging in the mid $230’s/cwt, establishing a new record high. YTD Western Canadian cow slaughter is 19 per cent smaller than last year whereas Eastern Canadian cow slaughter is down 1 per cent. For Western Canada, this is the third smallest cow slaughter volume on record, after 2004 and 2005. The first half of the year price highs are still in front of us.

Bull

• Alberta fed prices have rallied from February to March in five of the last ten years
• Butcher cows first half of the year highs are still in front of us
• Alberta cash-to-futures basis was -4.67, the strongest basis for this week since 2020. Fed basis historically strengthened in March

Bear

• Instability and war tensions in the Middle East
• Heavyweight steers over 800 pounds were $5.00–7.00/cwt softer
• Carcass weights remain record large