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

The Canfax average fed steer and heifer price closed around $297/cwt live, mostly steady with the previous week. Fed cattle prices have chopped sideways for the past month. Buying interest was noted from all Western Canadian packers but competition on the cash market was limited. Last week, dressed sales were reported from $495.00–$497.50/cwt FOB the feedlot. Cattle that traded were scheduled for late November/early December delivery. U.S. packer interest was noted, and light volumes of Western Canadian fed cattle were marketed south. These cattle will be priced off the five-area average. Over the past few weeks, Eastern Canadian fed prices have been trading at a slight premium over the Western Canadian market.

Last week, the Canfax feeder steer and heifer price closed the week $1–$5/cwt lower. Week over week, the largest price decline was on lightweight steer calves with prices down $10–$17/cwt. Last week, 800–900 pound heifers traded $9/cwt lower and are back to within $10/cwt of their lows set in September. Over the past couple of weeks, Alberta 550 pound steers have been averaging in the mid-$640s/cwt; prices are roughly $35/cwt lower than last year. Alberta auction volumes were just over 48,000 head, 4,000 head larger compared to last year. For the week ending October 3rd, Canadian feeder cattle exports to the U.S. totaled 3,330 head, the largest weekly export volume seen since June.

Last week, Alberta D2 cows traded $2/cwt lower, averaging $217/cwt with a range from $200–$235/cwt. Western Canadian cow slaughter has been above last year for the past thirteen weeks. D3 cows averaged $192/cwt. Butcher bulls traded $4/cwt lower, averaging $229/cwt, with a range from $200–$271/cwt. For the week ending October 3rd, Canadian butcher bull exports to the U.S. totaled 552 head.

Bull

• In August, Canadian beef exports were 20 per cent larger than last year.
• AB/SK October 1st cattle on feed report should be viewed as bullish.
• U.S. steer by-product values are 34 per cent higher than last year.

Bear

• Based off the latest World Supply and Demand report, both pork and poultry production for 2027 are expected to be larger than 2026.
• Last week’s Alberta/Nebraska cash-to-cash basis was estimated around -22, one of the weakest basis levels seen this year.
• For the beginning of October, Western Canadian steer carcass weights averaged over 990 pounds, record large for October. Historically, carcass weights don’t peak until late November.