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April 3, 2023 Current Markets & Forecasts
by Canfax

Canfax Weekly Article | Report for the week of April 3, 2023

The Canfax fed steer and heifer price closed the week at around $213.50/cwt, $2.75/cwt higher than the previous week. Fed prices have traded higher for 15 consecutive weeks, gaining $31/cwt. Last week, dressed sales were reported from $351.50-360.50/cwt FOB the lot. Most of the cattle that traded were being scheduled for mid-April delivery. Competition on the cash market was decent, with both major packers buying cattle. A few Alberta fed cattle were also marketed on the Canfax average price, based on the week the cattle will be delivered. 

The Canfax average feeder steer and heifer price was $1-5/cwt higher. Last week, the largest price jump was heifers weighing from 5-800 lb, with prices advancing $5-7/cwt. The steer/heifer calf (550 lb) price spread is now the narrowest it has been all year. Over the past couple of weeks, there have been a few special replacement heifer sales. Demand has been mixed; first-cut heifers are going to breeding programs, while second-cut heifers are ending up in the feedlot. Open replacement heifers have been trading anywhere from $1,900-2,400/head. Alberta auction volumes totaled just more than 36,000 head, 11,000 head greater than the same week last year. Canadian feeder cattle exports to the U.S. for the week ending March 18 totaled 3,063 head, 60% lower than the same week last year.

Alberta D2 cows traded $2/cwt lower than the previous week, and live trade was reported from $124‑142/cwt. D3 cows averaged $119/cwt. Just recently, Alberta cow prices have moved to a slight premium to the U.S. market. Alberta cow prices are the highest in North America. Butcher bulls traded $3.75/cwt higher, averaging $149/cwt, with a trading range from $125-174/cwt. Canadian butcher bull exports to the U.S. for the week ending March 18 totaled 590 head.


  • Based on the five-year average, Alberta fed cash-to-futures basis levels historically strengthen from March to April.
  • April and June live cattle contracts have closed higher for five straight days, setting new contract highs.
  • For the end of February, total U.S. beef in cold storage is 6% lower than last year.


  • Over the past two weeks, U.S. pork cutout values have dropped 7% and are trading at nearly the lowest point this year.
  • For the month of January, Canadian beef imports were larger than last year. Larger imports were noted from Brazil and Uruguay.
  • U.S. steer byproduct values are trading at the lowest point since July 2021.

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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.

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Cattle Report

Updated: 08/12/2023


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Choice Steers

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Boner Cows

Over 500 lbs: 189.75

Canadian Dollar

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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

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