Canfax Weekly Article | Report for the week of June 9, 2025

The Canfax average fed steer and heifer price closed around $300.50/cwt live, $2/cwt higher than previous week. Fed cattle prices have traded steady to higher for the past thirteen weeks. Light trade was reported last week with dressed sales reported from $496.00-502.00/cwt FOB the feedlot. Buying interest was noted from all Western Canadian packers. Cattle that traded were being scheduled anywhere from immediate to the second half of July delivery. U.S. packer interest was noted, and light volumes of Western Canadian fed cattle were marketed South. Sales to the U.S. were at a premium over local deals. This is the fifth year in a row that fed prices have established the first half of the year highs in June.

Last week, the Canfax average feeder steer price was down $2.50/cwt while heifers strengthened $2.50/cwt. Week over week, the largest price jump was on heifers over 800 pounds with prices up $15/cwt. Demand for feeder heifers has been strong with the steer/heifer feeder price spread narrowing considerably over the past few weeks. There has been a significant increase in fall delivery calf sales. Last week, AB/SK steer calves for October/November delivery traded from $570-626/cwt. Fall delivery calf prices are currently trading at a premium to the spot market. Alberta auction volumes were just over 24,000 head, 8,000 head larger than last year. Canadian feeder cattle exports to the U.S. for the week ending May 24th totaled 2,216 head.

Last week, Alberta D2 cows traded fully steady averaging $231/cwt with a range from $190-250/cwt. D3 cows averaged $209/cwt. Cow prices are $0.50/cwt off their highs set back in early May. Butcher bulls traded $1.50/cwt lower, averaging $245/cwt, with a range from $220-270/cwt. Canadian butcher bull exports to the U.S. for the week ending May 24th were 456 head.

Bull

• U.S. 90 per cent trim prices set new highs last week
• Stronger U.S. cash prices supported the cattle complex as all 2025 live cattle contracts set new highs
• YTD (Jan-Apr) U.S. beef exports to South Korea and Hong Kong are above last year

Bear

• The June Canadian dollar is trading at the highest point in 8 months
• Last week, Alberta fed prices were trading at $28/cwt discount against the Nebraska market. For the beginning of June, this is the weakest basis in 20 years
• In Western Canada, lighter slaughter rates and historically small fed cattle shipments to the U.S. could start to back fed supplies up