Canfax Weekly Article: Report for the week of October 5, 2026

The Canfax average fed steer and heifer price closed around $296.50/cwt live, mostly steady with the previous week. Buying interest was noted from all Western Canadian packers. Light trade was reported last week with dressed sales ranging from $492.00–$498.00/cwt FOB the feedlot. Cattle that traded were scheduled for the first half of November delivery. In some instances, producers have been willing to take less money for a quicker lift date. Last week, U.S. packer interest was noted from at least two different plants. Light volumes of Western Canadian fed cattle were marketed south and will be priced off the five-area average.

Last week, the Canfax feeder steer and heifer price closed the week $6–$13/cwt higher. Week over week, the largest price increase was on lightweight steer and heifer calves with prices advancing $14–$20/cwt. From their lows in late August/early September, steers weighing over 800 pounds have rallied roughly $15/cwt. Last week, Alberta 550 pound steers averaged just over $640/cwt, $50/cwt lower than last year. With good grass conditions and many producers still harvesting, the fall calf run has been slow to get underway with lighter volumes than normal. Alberta auction volumes were just over 32,000 head, 10,000 head lower compared to last year. For the week ending September 19th, Canadian feeder cattle exports to the U.S. totaled 2,991 head, the largest weekly export volume seen since July.

Last week, Alberta D2 cows traded $2/cwt higher averaging $213/cwt with a range from $190–$232/cwt. D3 cows averaged $190/cwt. Alberta cow prices are at the lowest point since April 2025. Butcher bulls traded $1/cwt lower, averaging $230.50/cwt, with a range from $200–$260/cwt. For the week ending September 19th, Canadian butcher bull exports to the U.S. totaled 967 head, 42 per cent higher than the same week last year.

Bull

• The rib market has been impressive as of late with Choice ribs setting new record highs last week.
• Western Canadian packers have started to add some Saturday shifts to their work schedule.
• USDA quarterly hogs and pigs report should be viewed as slightly bullish; total hog inventories on September 1st were 2 per cent lower than last year.

Bear

• Historically, Alberta fed basis levels weaken from September to October.
• From a seasonal perspective, Choice cutout values could still see downwards pressure over the next couple of weeks.
• Since early August, U.S. 90 per cent trim prices have dropped 14 per cent and are now trading below year-ago levels.