For the week ending November 23, Western Canadian feeder cattle markets traded $3 to $6 higher with some quality heifer packages up as much as $10 compared to seven days earlier.
Strength in the deferred live cattle futures along with favorable Alberta fed cattle basis for the summer of 2025 set a positive tone to the nearby feeder market. The fed cattle cash market is incorporating a risk premium due to the uncertainty in longer term beef production. Therefore, feedlot operators are being more aggressive on feeder purchases to capture this opportunity.
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Yearling numbers are limited at this time of year, but there has been a surge in buying interest for replacements over 800 pounds. Secondly, cattle producers who will need grassers next spring are securing ownership on light weight bawlers now. Calves are becoming fleshier but discounts have been minimal so far.
South of Edmonton, tan yearling heifers averaging 983 pounds coming off grass and hay diet with full processing records traded for $320. In Southern Alberta, a smaller package of Angus-blended yearling steers off grass and hay diet weighing just over 900 pounds were valued at $333.
In central Saskatchewan, Simmental cross steer calves averaging 820 pounds coming off their mothers with regular hay and supplemental feeding supposedly sold for $367. North of Calgary, mixed heifers coming off forage and light grain ration averaging just over 800 pounds set the bar at $325. The Beaverlodge market report had a handful of black steer calves weighing 762 pounds trading for $363.
Northwest of Winnipeg, Angus-based, semi-weaned, thinner wide-frame steers weighing 733 pounds settled on the board at $389. At the same sale, Charolais-based heifers averaging 711 pounds apparently sold for $344. In central Alberta, larger wide frame black Limousin cross heifers with unknown weaning period were quoted at $360.
Near Saskatoon, a smaller package of tan steers off their mothers weighing 600 pounds reportedly moved through the ring at $433 and black bawling heifers around 605 pounds supposedly traded for $372.
Southeast of Edmonton, black mixed unweaned steers averaging 560 pounds sold for $462. Southeast of Saskatoon, British-blended heifers averaging 500 pounds supposedly traded for $435 and black steers weighing 511 pounds were last bid at $466. The Killarney market report had red and black steers weighing a shade under 500 pounds reaching up to $531.
In southern Alberta, good quality bred heifers have been trading in the range of $4500-$5500. The market is encouraging expansion but there is no sign of large scale heifer retention.
— Jerry Klassen is president and founder of Resilient Capital, specializing in proprietary commodity futures trading and market analysis. Jerry consults with feedlots on risk management and writes a weekly cattle market commentary. He can be reached at 204-504-8339 or via his website at ResilCapital.com.
