For the week ending November 22, Western Canadian feeder cattle prices were steady to $10/cwt lower on average. Earlier in the week, the heavier weight categories came under pressure while cattle under 700 pounds held value. However, by Friday, all weight ranges exhibited a softer tone.
Feedlots are coming to the realization that the fed cattle market may not recover. Current inventory on unhedged cattle are severely under water for winter and spring 2026. This is the main factor driving the feeder as the fed market continues to trend lower.
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The VJV market report from Westlock had a smaller group of mixed, lower flesh yearling steers weighing 946 pounds that traded for $428/cwt. At the same sale, a group of 15 Charolais cross steers scaled at 810 pounds traded for 457/cwt.
At the Ste. Rose auction in Manitoba, there was a group of black and red heifers averaging 833 pounds that sold for $406/cwt. The same report included a group of black, white face steers evaluated at 845 pounds that dropped the gavel at $445/cwt.
The VJV market report from Ponoka had a group of 31 red mixed, semi-weaned, steers on a diet of corn silage and hay with full processing records but no implants, carrying 729 pounds selling for $518/cwt. At the same sale, a eight-pack of mixed heifers on a diet of cows and silage with full health records with a mean weight of 734 pounds, traded for $440/cwt.
At the Prince Albert sale, a pen-sized package of black steers averaging 600 pounds was valued at $591/cwt. At the same sale, black heifers with a mean weight of 603 pounds traded for $499/cwt.
The Vermillion Livestock Exchange reported a group of 22 tan steers weighing 550 pounds that traded for $681/cwt. The Killarney market report included a group of red and black heifers averaging 530 pounds that notched the board at $590/cwt. At the same sale, a dozen Charolais cross steers with a target weight of 538 pounds received a final bid of $651/cwt.
Alberta packers were buying fed cattle in Southern Alberta in the range of $290-$292/cwt fob feedlot. Breakeven fed cattle prices start around $305/cwt. Margins are in negative territory.
In Alberta and Saskatchewan, cattle on feed inventories on November 1 were up one per cent from last year. Cattle on feed 180 days or more were similar to year-ago levels but weights appear be increasing. In the U.S., cattle on feed 180 days or more are up sharply from last year. There is a burdensome fed cattle supply in the U.S. in the short-term.
