Canfax cattle market report – May 21, 2026

This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca.

Fed prices keep rising

The week ending May 8 saw fed prices in Western Canada rally higher yet again.

Alberta fed steers brought $5.43 per hundredweight more than the previous week, closing the week at $340.83 per cwt. Fed heifers saw a smaller rally, easing $1.30 per cwt. to close the week at $335.25 per cwt.

Analysts anticipate that seasonally stronger fed prices are still to come.

In April, fed steers averaged $331 per cwt. While this was three per cent higher than March’s average, it was below the five-year average rally of six per cent.

Fed steer prices rallied nine per cent from January to April, the third largest rally seen in the past decade.

Dressed sales were reported at about $563-$567 per cwt. delivered, up $2-$3 per cwt. from the previous week.

All western Canadian packers showed buying interest, and the majority of the cattle that sold were set for delivery in the second half of May.

The Alberta cash-to-futures basis was -4.23, narrowing by 11.24 from the previous week.

Alberta fed basis levels tend to strengthen from April to May, with the strongest cash-to-futures basis normally happening in early May.

The nearby live cattle futures contract closed on May 8 at $248.90 per cwt., $6.35 per cwt. lower than the contract high set on April 29.

Western Canadian fed slaughter for the week ending May 2 was 33,802 head, steady with the previous week.

In April, western Canadian fed slaughter totalled 178,065 head, making it the largest April slaughter volume since 2009. This was 2.5 per cent higher than April 2025 and 6.7 per cent higher than the five-year average.

Light volumes of Ontario cattle were marketed to the United States during the week ending May 8, averaging US$405 per cwt. delivered.

Sales across the border worked back to the mid $330s per cwt. f.o.b. feedlot, depending on freight and dressing percentage.

Cow prices stabilize

The western Canadian butcher cow market saw prices hold in the high $240s per cwt. during the week ending May 8, stabilizing after a strong rally in April.

On a cash-to-cash basis, Alberta cows traded at a premium of $8 per cwt. to their U.S. counterparts. This was the largest premium noted so far this year.

Early May saw a rise in non-fed volumes compared to the start of April, with more calving season culls being brought to town.

Year-to-date Canadian cow slaughter was down 9.3 per cent from last year, while year-to-date non-fed beef production was down 6.6 per cent from 2025.

Western Canadian cow carcass weights have held at record highs, averaging around 900 pounds. Many of the cows entering the slaughter mix came out of feedlots, with larger carcass weights assisting to somewhat make up for historically low slaughter volumes.

Canfax analysts expect feeder cow buyers to remain active on the market.

Feeder market mixed

Alberta auction volumes for the week ending May 8 totalled just fewer than 21,000 head, making it one of the lighter weekly volumes seen in the first week of May over the last decade.

Steer prices closed the week steady to $17 per cwt. higher than the previous week, while heifer prices were anywhere from $6 per cwt. softer to $17 per cwt. stronger than the previous week.

Over the past three months, steer calf prices have averaged around $700 per cwt., and heifer calf prices have averaged around $633 per cwt.

Since January, Alberta feeder steers weighing 850 lb. have remained steady at about $500 per cwt. Their heifer counterparts have averaged about $460 per cwt. during the same period.

Ontario auction volumes for the week ending May 8 totalled just more than 12,000 head.

Average Ontario steer and heifer prices softened by about $4 per cwt. from the previous week.

Steer and heifer calves weighing less than 600 lb. were nearly steady with the previous week, and feeder cattle prices were down by $4 per cwt.

From March to April, Ontario steer and heifer calves weighing 550 lb. rallied to $675 per cwt. and $587 per cwt., respectively, moving higher than the highs set last fall.

Ontario 850 lb. feeder steers also set new record highs at $515 per cwt. Heifers of the same weight class returned to last year’s peak of $437 per cwt.