For the week ending May 16, Western Canadian feeder markets were steady to $6 higher on average compared to seven days earlier. Heifers were relatively unchanged but steers were notably stronger, especially on replacements over 800 pounds.
The October and December 2025 live cattle futures are trading at a $7 discount to the nearby June contract, which has buyers on the defensive. At the same time, the August feeder cattle futures are near the $300 level, which is a historical high.
The feeder market is functioning to ration demand. Feeding margins in Canada and the U.S. on incoming replacements are deep in red ink. Many feedlot operators in Alberta and Ontario have pulled in the reins on purchases over the past couple of weeks. Pen-sized groups are hard to come by at this time of year, and smaller packages are discounted off average levels by between $5 and $15.
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This week, the market was quite variable across the Prairies and this reflects the lack of buying interest in certain regions.
Southeast of Edmonton, larger frame lower flesh backgrounded Charolais cross steers averaging just over 900 pounds were reported to have sold for $390. In Central Saskatchewan, Simmental cross heifers averaging 900 pounds were valued at $368 fob farm.
At the Ponoka sale, a handful of red heifers on silage and barley diet with full processing data evaluated at 815 pounds traded for $394. At the same sale, a small package of eight, mixed, run-of-the-mill steers scaled at 815 pounds on silage and light barley diet with full herd health records were last bid at $432.
At the Westlock sale, a smaller package of red white face steers averaging 718 pounds apparently sold for $480. In central Saskatchewan, black mixed steers with mean weight of 710 pounds were quoted at $488. In the Calgary region, black Limousin blended heifers with a mean weight of 700 pounds notched the board at $462.
At the Vermilion sale, a larger package of exotic heifers weighing just over 600 pounds sold for $536. In the same region, a smaller package of Charolais steers with mean weight of 665 pounds traded for $512.
In the Calgary region, a group of Angus based weaned steers weighing just over 500 pounds silenced the crowd at $608. Southeast of Edmonton, a double handful of British based steers eyed at 526 pounds left the ring at at $550. North of Calgary, a buyers report had a handful of exotic heifers on the card at 534 pounds selling for $545.
Wheat prices are trending lower and there is a fair amount of uncertainty regarding canola prices for new-crop positions. I’ve actually received a few calls from farmers, who have been out of the cattle business for a few years, asking about profitability on grassers. Is this a sign that the market is at or near the top? Light-weight pee-wee calves around 330 pounds are in the range of $680-$700.
