AB Direct - Steers

Live: ---
Rail: ---

AB Direct - Heifers

Live: ---
Rail: ---

US Trade- Steers

Live: ---
Rail: 270.00 (NE, IA)

US Trade - Heifers

Live: ---
Rail: 270.00 (NE, IA)

Canadian Dollar

Photo Credit: Todd Korol
April 24, 2023 Current Markets & Forecasts
by Canfax

Canfax Weekly Article | Report for the week of April 24, 2023

With fed prices moving above $220/cwt, feedlot margins have gone from negative to positive, and lift times have tightened considerably. From a supply perspective, the market is currently in the process of working through what could be the tightest market-ready numbers that we could see all year. Yearling supplies are winding down, while fed calf numbers continue to be light. This week, dressed sales were reported at mostly $380/cwt delivered, $5-7/cwt higher than the previous week. For cattle sold on the cash market, it is estimated feedlot margins are anywhere from $150-250/head positive.

Feeder prices rallied sharply higher last week, with continued strong interest for grass-type calves and for 700+ lb bunk replacements to hit the fourth-quarter fed market. Steer calves from 5-700 lb and 6-700 lb heifers all established new historic highs. A light test of Saskatchewan steer calves for deferred September/October delivery saw a slight premium, while large AB/SK steers over 900 lb saw a significant $22.50/cwt premium to the spot price. Total auction volumes realigned 95% larger than the previous week, which included the Good Friday holiday, to 28,126 head. YTD auction volumes were up 3%, totaling 431,017 head. Canadian feeder exports to the U.S. for the week ending April 8 totaled 2,644 head and were 52% lower than year ago. YTD feeder exports continue significantly below year ago, down 61% at 33,910 head.

Non-fed prices rallied higher on reduced offerings, and D2 slaughter cows surged almost $9.50/cwt higher than the previous week to average $139.86/cwt. D3 cows saw a respectable $5.80/cwt week-over-week price improvement closing at $121.71/cwt. Average D2 cow/AB steer price spread continue to seasonally narrow at 61.5%. Butcher bull prices firmed modestly $3.34/cwt higher to average $155.79/cwt. Western Canadian non-fed slaughter for the week ending April 15 was 23% larger than the previous week at 6,493 head, and YTD was up 13% to 122,092 head.


  • Feedlots should continue to maintain leverage moving forward.
  • Carcass weights continue to ease seasonally smaller.
  • Improved feeding margins are in the black.


  • Competing meats have better margins and features than beef at retail.
  • USDA’s April 1 cattle on feed report is being viewed as slightly bearish, with placements above expectations.
  • The fed basis remains seasonally weak.

Share this on

About the Author


For over 50 years, Canfax has provided expert analysis of markets and trends in the ever-changing North American beef industry. In this new millennium, cattlemen, feedlot managers, and agri-business professionals will continue to rely on up-to-the-minute information as an essential tool for maximizing profit in today’s beef sector. Whether your operation needs to plan for three hours or three years into the future, Canfax delivers timely, accurate information for 21st Century cattle industry professionals. Those interested in becoming Canfax members can sign up on the website at www.canfax.ca.

Top Stories

December 9, 2023 Business Tools

#Allforthebeef with Brad Dubeau

December 8, 2023 Business Tools

Buying or selling a confined feeding operation? Here’s what you need to know

December 8, 2023 Business Tools

Nominations open for AFSC's Women In Ag Award

Cattle Report

Updated: 08/12/2023


Live: ---
Rail: ---


Live: ---
Rail: ---

Choice Steers

Live: ---
Rail: 270.00 (NE, IA)

Choice Heifers

Live: ---
Rail: 270.00 (NE, IA)

Boner Cows

Over 500 lbs: 189.75

Canadian Dollar

$73.76   0.18

Livestock Price Insurance Index

Expiry Fed Feeder Calf
26-Feb 212 278 -
25-Mar 216 280 -
22-Apr 220 284 -
20-May 224 292 -
17-Jun 230 302 -
15-Jul 224 - -
12-Aug 220 304 -
Last Updated on December 1, 2023

Add to Homescreen

  1. Tap the menu button next to the address bar or at the bottom of your browser.
  2. Select ‘Install’ or ‘Add to Homescreen’ to stay connected.