Canfax Weekly Article | Report for the week of September 14, 2026

Alberta fed prices traded sideways for the first time since June. Weighted average fed steers and heifers closed the week at $296.00 and $294.00/cwt respectively. Fed prices have now traded below year ago for four consecutive weeks. Dressed sales were reported at $495.00/cwt delivered; sales were at the top end of last week’s trading range. Competition on the cash market was somewhat limited with one packer buying most of the cattle. Cattle that traded were scheduled for the second half of October delivery. U.S. interest was noted on both Eastern and Western Canadian markets; U.S. bids were at a premium over local deals.

The Western Canadian fall run got underway last weekend, with the first of several calf and feeder pre-sort sales. This year was the first time on record that the Alberta 550 pound calf market was dark for multiple weeks, highlighting just how good grass conditions have been. Average steer and heifer prices softened again last week, with steers just shy of $7.00/cwt, while heifers eased just over $5.00/cwt.

The non-fed market has been under pressure and there has been a noticeable decline in non-fed volumes through commercial auction facilities. In some cases, last week there were more butcher bulls on offer than cows. Not only have sale ring prices worked lower, but dressed bids/sales were down roughly $50.00–$60.00/cwt over the past couple of weeks. Despite light auction volumes, packers seem to be well covered with cows as lift times for grain-fed cows are much longer than normal.

Bull

• Canadian beef exports remain strong.
• Alberta cash-to-futures basis was reported at -2.27, and has been moving counter seasonally and above the five-year average for the last five weeks.
• The nearby live cattle contract closed last week stronger.

Bear

• U.S. policy aimed at lowering retail beef prices while simultaneously rebuilding the U.S. beef herd has set the cattle and beef market on edge.
• The JBS Souderton closure has slowed Eastern Canadian fed cattle and cow exports to the U.S. to around 1,500–1,600 head per week.
• September is traditionally a weaker beef demand month as back-to-school and summer holiday bills come due.