Canfax Weekly Article | Report for week of May 4, 2026

The fed cattle market has put together an impressive run, strengthening for the past seventeen weeks. The combination of new market access to China, tighter cattle supplies, and the seasonal spring rally have all been supportive. Beef production is slightly below last year, yet prices are 16 per cent higher than last year. Dressed sales were reported from $560.00–$565.00/cwt delivered. U.S. packer interest was supportive and light volumes of Western Canadian fed cattle were marketed south. These cattle will be priced off the five-area average. For the week ending April 25th, Western Canadian fed slaughter was just over 33,000 head, the smallest non-holiday slaughter volume seen this year.

Last week, Alberta auction volumes were 22,840 head, up 6 per cent from the five-year average. In April, auction volumes were 115,344 head, 40 per cent higher than last year and the highest since 2015. Canfax average feeder steers and heifers closed the week $5.00/cwt stronger than the previous week. The highlight was light calves from 3–500 pounds, trading $23.00–$31.00/cwt stronger, while heavier feeders were under pressure, with 900 pound+ steers down $17.00/cwt from the previous week. For the week ending April 24th, Lethbridge barley averaged $311/tonne, up $3/tonne from the previous week. Lethbridge wheat is back trading at a high of $308/tonne, up $2/tonne from last week. Meanwhile for the month of April, Lethbridge corn averaged $299/tonne, up $14/tonne from March.

A stronger price tone was noted for all non-fed cattle this week. Alberta D2 and D3 cows through commercial auction marts were $2.00–$3.00/cwt stronger than the previous week, with butcher bulls up $7.00/cwt. Feeder cows were up $5.00/cwt and railgrade cows were steady to $5.00/cwt stronger. For the week ending April 25th, Western Canadian non-fed slaughter was 8 per cent larger than a year ago. This is the first time this year that weekly slaughter has been above a year ago.

Bull

• Record high fed prices
• Market access to China
• U.S. interest was supportive

Bear

• Stronger grain prices may put pressure on the feeder market
• Brazil and China beef safeguard may affect Canadian cull cow prices, as Brazilian and Australian lean trim gets re-directed to Canadian and U.S. market
• Heavier feeders were under pressure