Canfax Weekly Article | Report for the week of January 12, 2026

Alberta fed cattle prices have been on an upward swing since mid-December. Weighted average prices were around $3.00/cwt stronger than mid-December, when prices were last published. Dressed sales were ranging from $497.00–500.50/cwt FOB the feedlot, with immediate to first half of February delivery. Buying interest was noted from all Western Canadian packers. Since the first week of December, Western Canadian steer carcass weights have declined 47 pounds to 970 pounds. For 2025, steer carcass weights (FI only) averaged 943 pounds, 2 pounds lighter than last year but 16 pounds heavier than the five-year average.

Last week, Alberta calf and feeder prices were up $10.00–25.00/cwt. All classes of cattle traded higher, but the bright spot was heavier steers weighing 900–925 pounds, with some sales hitting just over $500/cwt. Eastern Canadian feedlot interest has picked up compared to late December, supporting the heavier-weight feeder market. Looking at the calf market (550-pound steers), over the past five years the average increase from fourth-quarter lows to the first half of the year’s high is 24 per cent. Using the fourth-quarter low of $621.00/cwt, a historical increase would put calf prices on track to peak near $770.00/cwt. This seems rather ambitious and likely will not be achieved, but there is a good chance calf prices could revisit and possibly overtake the high set in 2025 at $692.00/cwt.

Coming back from the holiday season, lighter auction volumes saw Alberta D1 and D2 cows average $216.33/cwt, down $1.81/cwt from three weeks earlier. D3 cows were price supportive, up $3.44/cwt. For the month of December, Alberta D1 and D2 cows averaged $217.89/cwt, up $3.20/cwt from November, while D3 cows averaged $195.36/cwt, up $2.48/cwt. Seasonally, during the first half of the year, cow slaughter typically peaks around the second half of January.

Bull

• Non-fed prices should be price supportive from January to February
• Alberta fed prices have been on an upward swing since mid-December
• There is a good chance calf prices could revisit and possibly overtake the record high set in 2025 at $692.00/cwt

Bear

• Last week, it was announced that a case of New World screwworm had been found in a six-day-old Mexican calf; this is the closest the parasite has come to the U.S. border
• As of January 1, 2026, China has implemented a beef safeguard measure; Brazil is expected to divert product to other markets, shifting global beef trade flows, and currently Canada and the U.S. do not have access to China
• For 2025, Western Canadian steer carcass weights remain record large