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AB Direct - Steers

Live: ---
Rail: 492.00-498.50 FOB feedlot (last week)

AB Direct - Heifers

Live: ---
Rail: 492.00-498.50 FOB feedlot (last week)

US Trade- Steers

Live: 230.00-231.00 (KN), 240.00-242.00 (NE) last week
Rail: 376.00-382.00 (NE, IA) last week

US Trade - Heifers

Live: 230.00-231.00 (KN), 240.00-242.00 (NE) last week
Rail: 376.00-382.00 (NE, IA) last week

Canadian Dollar

$73.21
0.15

Canfax Weekly Article | Report for the week of July 21, 2025

The Canfax average fed steer and heifer price closed around $297.50/cwt live, $1.50/cwt higher than previous week. Fed prices are around $40/cwt higher than last year. Light trade was reported last week with dressed sales reported from $493.50498.50/cwt FOB the feedlot. Competition on the cash market was mixed last week. Cattle that traded were scheduled anywhere from immediate to late August delivery. Over the past couple of weeks, Alberta fed prices have been trading at a $30/cwt discount against the Nebraska market. Despite historically weak basis levels, U.S. packer interest on the Western Canadian cash market has been quiet.  

Last week, the Canfax average feeder steer price was $1.50/cwt higher while heifers eased $1/cwt. Trading $2/cwt higher 850 pound steers established new record highs. Over the past twenty-five years, 850 pound feeders have never established annual highs in July. From a seasonal perspective, heavier feeder prices traditionally don’t peak until late September. Last week, the largest price jump was on 6-700 pounds stockers with prices up $7-10/cwt. Last week, AB/SK 5-599 pounds steer calves for October/November delivery traded from $559-653/cwt. Alberta auction volumes were just over 15,000 head, 5,000 head larger than last year. Canadian feeder cattle exports to the U.S. for the week ending July 5th totaled 1,852 head.  

Last week, Alberta D2 cows traded $2.25/cwt lower, averaging $219/cwt with a range from $210233/cwt. D3 cows averaged $199/cwt. Cow prices are at the lowest point since early April. Butcher bulls traded $7/cwt lower, averaging $234/cwt, with a range from $200280/cwt. Canadian butcher bull exports to the U.S. for the week ending July 5th were 247 head. 

Bull

  • July 1st AB/SK cattle on feed inventories are below last year and below the five-year average
  • According to the July WASDE report, U.S. beef production for 2025 is projected to be down 2.9 percent from last year, and 2026 is forecasted to be down 1.4 percent compared to 2025
  • The U.S. all-fresh beef retail price for the month of June was record high

Bear

  • Alberta fed prices are at a sizeable discount to both the U.S. and Ontario markets
  • Alberta fed cash basis levels are the weakest they have been this year
  • U.S. packers are expected to face negative margins again in the second half of July, with seasonally weaker cutouts and high cattle prices. North American packers continue to run reduced hours.

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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: 21/07/2025

Steers

Live: ---
Rail: 492.00-498.50 FOB feedlot (last week)

Heifers

Live: ---
Rail: 492.00-498.50 FOB feedlot (last week)

Choice Steers

Live: 230.00-231.00 (KN), 240.00-242.00 (NE) last week
Rail: 376.00-382.00 (NE, IA) last week

Choice Heifers

Live: 230.00-231.00 (KN), 240.00-242.00 (NE) last week
Rail: 376.00-382.00 (NE, IA) last week

Boner Cows

Over 500 lbs: 306.88

Canadian Dollar

$73.21   0.15

Livestock Price Insurance Index

Expiry Fed Feeder Calf
13-Oct-25 282 430 --
10-Nov-25 276 424 --
8-Dec-25 276 412 --
5-Jan-26 -- -- --
2-Feb-26 274 408 --
2-Mar-26 272 404 --
30-Mar-26 272 398 --
Last Updated on July 17, 2025