Canfax Weekly Article | Report for the week of May 19, 2026

Alberta fed steer and heifer prices closed the week $6–$9/cwt higher than the previous week. Dressed sales were reported from $573–$580/cwt delivered, $8–$13/cwt stronger. Cattle that traded were scheduled for late-May to mid-June delivery. U.S. interests were noted, and light volumes were traded south. U.S. sales were comparable with local live deals. For the week ending May 9th, Western Canadian steer carcass weights were 893 pounds, rebounding from the previous week’s low of 865 pounds, but were 54 pounds lighter than just two weeks prior. Lighter carcass weights, driven by the west, will impact Prime and AAA grading as more fed calves come onto the market.

Last week, Alberta auction volumes were 21,463 head, up 10 per cent from the five-year average. Canfax average feeder steers and heifers closed the week $8–$13/cwt softer than the previous week. Over the past few weeks, there has been a notable uptick in heifer volumes; in some cases, heifers are making up 70 per cent of the total feeder offering. Currently, there are quite a few heifers coming out of background yards. In general, demand for breeding heifers has tapered off and many heifers are going to feedlots. Forward delivery calf prices continue to hold at record high levels with no seasonal pressure being priced into the fall market. Demand for cow-calf pairs has been strong. First and second calvers with good calves at side traded on either side of $8,000/pair.

Alberta D2 and D3 cows traded seasonally stronger, $3/cwt above the previous week. For the month of April, D2 cows averaged $244/cwt, up 2 per cent from March. D3 cows averaged $222/cwt, 3 per cent higher. From a seasonal standpoint, annual highs are not too far off as summer approaches. Butcher bulls saw slight pressure last week, down $2/cwt from the previous week and $3/cwt below the record highs from two weeks ago. Railgrade cows were steady from the previous week at $450–$460/cwt. For the month of April, Western Canadian cow slaughter at 27,002 head was the fourth largest April slaughter over the past decade, down 1.5 per cent from last year but up 10.5 per cent above the five-year average. First quarter Western Canadian cow slaughter is the smallest since 2005.

Bull

• Alberta fed prices continued to move higher
• First quarter Western Canadian cow slaughter is the smallest since 2005
• Forward delivery calf prices remain at record high levels

Bear

• Canfax May 1st cattle on feed inventory are the largest since 2022
• The May World Agricultural Supply and Demand Estimate report estimated corn production for the 2026–2027 crop year at 16 billion bushels, down 6 per cent from last year
• The Choice-to-Select spread is reported at -$1.55/cwt with less Select product available on the market