Canfax Weekly Article | Report for the week of April 13, 2026

The Western Canadian fed market has worked higher since the beginning of the year gaining $31/cwt or close to $500/head. Last week, the Canfax average fed steer and heifer price closed around $328/cwt live, up $3.50/cwt from the previous week. From a supply perspective, seasonally yearling numbers are declining while fed calves are still a little bit away from hitting the market. Buying interest was noted from all Western Canadian packers. Light trade was reported with dressed sales ranging from $544.00-549.00/cwt FOB the feedlot. Most of the cattle that traded were scheduled for the second half of April delivery. Alberta fed cash-to-futures basis was reported at -14.99, for the first part of April basis levels are in line with 2014.

The Canfax feeder steer price closed the week $5/cwt higher while heifers eased $4/cwt. Week over week, the largest price drop was on heifer calves less than 500 pounds with prices down $17-21/cwt. Steers over 800 pounds traded $8/cwt higher and are back to within $10/cwt of their highs set back in early March. Over the past month, Alberta calf prices have been trading on either side of $700/cwt, prices are $180/cwt higher than last year. Demand for breeding quality heifers remains strong. Last week, replacement heifers weighing from 750-900 pounds traded from $3,925-5,200/head. Alberta auction volumes were just over 19,000 head, 5,000 head larger than last year. Canadian feeder cattle exports to the U.S. for the week ending March 28th totaled 2,121 head.

Last week, Alberta D2 cows traded $3/cwt higher, averaging $243/cwt with a range from $210-267/cwt. D3 cows averaged $225/cwt. After trading at a premium to the U.S. market in March Alberta cow prices have just recently moved to a slight discount. Butcher bulls traded $4.50/cwt higher, averaging $269/cwt, with a range from $230-315/cwt. Canadian slaughter bull exports to the U.S. for the week ending March 28th totaled 466 head.

Bull

• Canadian beef exports in February were 4 per cent larger than last year
• U.S. 90 per cent trim prices have been impressive
• Last week, JBS workers at Greeley, Colorado have returned to work

Bear

• Last Friday’s AB/SK cattle on feed report should be viewed as negative
• Wholesale beef prices have struggled pushing packer margins back into negative territory
• U.S. hide prices are trading at nearly a 10-year price low