Canfax Weekly Article | Report for the week of April 20, 2026

Alberta fed steer and heifer trade was $2.00-3.00/cwt higher this week with a weighted average price at $332/cwt and $329/cwt respectively. Dressed sales were reported from $550.00-555.00/cwt delivered, $3.00-4.00/cwt higher than the previous week. Buying interest was noted from all Western Canadian packers. Most of the cattle traded were scheduled for the first half of May delivery. U.S. packer interest remained quiet. Fed cattle from Saskatchewan and Manitoba are moving west into Alberta for processing. The Alberta cash-to-futures basis was at -12.87, 2.12 weaker than the previous week and the weakest since 2013.

Last week, Alberta auction volumes were 24,911 head, up 88 per cent from last year, and 15 per cent from the five-year average. The Canfax average feeder steers and heifer closed the week $1.00-7.00/cwt stronger. For the week ending April 4th, feeder cattle exports to the U.S. are down 59 per cent from last year and down 41 per cent from the five-year average. The drop from last year was expected given the tariff concerns that send cattle South in 2025. But the drop from the five-year average shows there are simply more cattle staying in Canada for finishing.

A softer tone was noted last week on the butcher cow market with prices under a little pressure through commercial auction facilities. D2 cows are holding above $240.00/cwt, hovering near record high levels. The strength on the market has been impressive given one packer has been off the market since last fall. YTD Canadian cow slaughter has been running 11 per cent below last year; however, more cows are being shipped to the U.S. for slaughter. From January and February Canadian cow exports were 25 per cent larger than last year.

Bull

• Over the past 50 years, Alberta fed prices have the highest probability to reach their first half of the year’s highs in April or June
• Strong demand for butcher bulls
• D2 cows are hovering near record high levels

Bear

• Alberta cash-to-futures basis is reported at -12.87
• Canadian steer carcass weights were reported at 981 pounds. For the first half of the year, steer carcass weights are only 3 pounds shy of the record high set in 2024
• U.S. packer interest was quiet