Canfax Weekly Article | Report for the week of June 1, 2026

Alberta fed steers and heifers made new highs last week. Seasonally, fed prices are expected to make a summer peak in the coming weeks. Dressed sales were reported stronger than the previous week. Buying interest was noted from all Western Canadian packers. Cattle were scheduled for first half of June to mid-July delivery. U.S. interest was also noted, and bids were comparable with local sales. Most of the sales last week were calves, with a few yearlings in the mix. The Alberta cash-to-futures basis was the second strongest of the year and the strongest since March.

Last week saw a seasonally large offering of cattle move through Alberta auction marts. Weekly volumes were the second largest since 2010. Weighted average steer prices were steady with the previous week, while heifers ended the week slightly softer. Steer and heifer calves under 500 pounds saw mostly softer prices last week. Feeder steers and heifers from 500–900 pounds found tailwinds. Heavy feeder steers and heifers over 900 pounds struggled, losing ground from the previous week. Alberta 850 pound feeder steers were at a discount to the Ontario market in May but were at a premium to the U.S. Alberta 550 pound steer calves were the premium North American market in May.

Moisture conditions continued to vary widely across the Prairies; some areas were dealing with excessive moisture while other areas were drying out fast. Over the past couple of weeks, Alberta D2 cows have been holding near record highs. From a seasonal perspective, the Western Canadian cow market should be closing in on annual highs. Based on the five-year average, cow prices peak during the first half of June.

Bull

• Alberta fed prices rallied to new highs
• The retail beef demand index is at its highest point since 1982
• The per unit value of Canadian beef exports in the first quarter of 2026 was up 5 per cent from 2025

Bear

• Cutouts have struggled relative to seasonal expectations
• Fed prices in all major feeding states moved lower last week
• Since putting in its low, Lethbridge barley has moved higher for nine of the past 12 weeks