The TEAM auction market report had a pen-sized package of mixed steers with Charolais influence off grass diet with full health records and implants averaging 1,025 pounds selling for $450/cwt fob ranch for near Indian Head for immediate delivery. A rancher southwest of Edmonton, reported a larger package of Angus cross yearling heifers off pasture with full processing data and implants with a mean weight of 975 pounds traded for $435/cwt fob ranch.

More markets coverage: Manitoba cattle prices, Oct. 17, 2025

At the St Rose Auction, a group of 11 Charolais mixed steers (off grass) averaging 814 pounds sold for $543/cwt. At the Killarney sale, a smaller package of Charolais steers averaging 805 pounds dropped the gavel at $551/cwt.

At the Ponoka ring sale, a group of 36 Simmental cross Red Angus steers off cows and grass averaging 725 pounds with full processing records silenced the crowd at $594/cwt.

The Prince Albert market report had a group of 29 tan steers weighing 604 pounds selling for $627. At the VJV Westlock sale, 15 black steers weighing just over 600 pounds with full health records off cows and grass diet traded for $640/cwt.

On the TEAM video sale, a group of 60 Angus based steers averaging 510 pounds with full processing records and implants straight off their mothers sold for $751/cwt fob ranch near Bashaw, Alta.

At the Ste. Rose Auction, a smaller group of black and red bawling steers averaging 382 pounds reached 922/cwt. Their lighter brothers scaled at 348 pounds overwhelmed the crowd touching $982/cwt.

Alberta packers were buying fed cattle on a dressed basis at $505/cwt delivered, down $2-$3/cwt from a week earlier. Fed cattle traded on a live basis in Southern Alberta at $302-$304/cwt.

Canadian feeder cattle prices have been at a premium to U.S. values which has tempered buying interest from south of the border. This past week, Canadian and U.S. values were relatively equal for similar quality cattle which was supportive. Ontario buyers were fairly active across Western Canada for all weight categories.

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In central Alberta, Simmental based steers weighing 900 pounds on barley and silage diet with full processing data were valued at $405/cwt fob farm. In east central Alberta, black wide frame Limousin based steers averaging 825 pounds supposedly sold for $460/cwt.

The Killarney market report in Manitoba had red heifers weighing just under 900 pounds selling for $391/cwt. At the Ste Rose sale, a smaller package of red heifers with a mean weight of 795 pounds were marked at $425/cwt.

The Ponoka market report had a handful of red mixed steers evaluated at 709 pounds on hay and silage diet with full preconditioning data moving through the ring at $500/cwt. At the same sale, tan heifers scaled at 700 pounds on a diet of silage and pellets with full processing data dropped the gavel at $486/cwt.

At the Westlock sale, a smaller package of Angus Simmental cross 650 pound heifers on hay and barley diet with full processing records sold for $467/cwt. At the Ste Rose sale, the market report had black heifers averaging 616 pounds trading for $512/cwt.  In the Calgary region, a smaller package of Charolais weaned steers weighing just over 600 pounds were quoted at $573/cwt.

The Ste Rose Auction market report had Charolais steers averaging 555 pounds moving through the ring at $610/cwt. A buyer in central Alberta reported that Angus cross weaned heifers on the card at 560 pounds sold for $530.

The USDA estimated U.S. fourth quarter beef production at 6.650 billion pounds, down from the 2024 final quarter output of 6.882 billion pounds. If the U.S. border stays closed to Mexican feeders for an extended period, U.S. fourth quarter beef production forecasts would likely drop to 6.400 billion pounds. This would drive the December live cattle futures higher and support the yearling market during July and August.

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In Central Alberta, a smaller group of light butter, larger frame, mixed steers averaging 955 pounds on silage/protein supplement diet with full processing data sold for $311. In the same region,  a smaller package of fleshier 925-pound mixed, medium frame, red heifers sold for $294. North of Red Deer, a smaller group of thinner, large frame Angus blended heifers weighing 810 pounds dropped the gavel at $329. In North-Central Saskatchewan, medium to larger frame, lower flesh Charolais steers averaging 815 pounds were valued at $358.

In Central Saskatchewan, large-wide frame Limousin blended steers and on grass and hay diet weighing 710 pounds were last bid at $403. South of Edmonton, medium to larger frame, thin, tan mixed heifers around 705 pounds apparently traded for $340.

The market for lighter calves was extremely variable across the prairies. In Central Alberta, weaned Simmental mixed steers on grass and hay diet with full processing data averaging 655 pounds supposedly traded for $456. In Central Saskatchewan, a smaller package of 620 pound mixed steers reportedly sold for $432. In Central Alberta, medium wide frame red Angus blended heifer calves on hay and forage diet scaled at 655 pounds apparently notched the board at $390.

In Central Alberta, a handful to tan weaned 520-pound steers charted course at $480. In Central Saskatchewan, a smaller package of mixed 530-pound steers were valued at $438. In the Calgary region, a handful of mixed weaned heifers weighing 585 were valued at $394 and weaned black heifers around 510 pounds reportedly sold for $398.

Finishing and backgrounding operations are factoring in a $15-$20 jump in feeder cattle prices between now and August. When there is a quality package available, buyers are not afraid to bid the market to fresh record highs. It’s a very unique period in the cattle cycle.

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Strength was noted in calves under 650 pounds while feeders over 700 pounds were relatively unchanged. Larger packages of weaned quality genetics were $8 to $10 higher in some cases.

Year-end buying was evident across the prairies, which enhanced buying interest. Despite the year-over-year increase in prices, demand has exceeded expectations. The higher prices have encouraged ranchers and cow calf producers to sell light-weight calves earlier than normal. This forward push in marketing behavior comes on the heels of consecutive year-over-year decreases in the calf crop. Therefore, feedlot operators are gearing up for a significant shortfall in overall feeder numbers in the first half of 2024. Buyers are stepping up earlier than normal for grassers. The pee-wee calves remain hot with larger operations placing these cattle in backgrounding custom feedyards.

In central Saskatchewan, tan weaned steers with larger, thin frames weighing a shade over 900 pounds apparently traded for $293. At the Ponoka video sale, mixed steers over 60 day weaning period, averaging 820 pounds with full health data on silage and light barley diet, were last bid at $310. In the Edmonton region, Angus based semi-weaned heifers with full health data, weighing 850 pounds reportedly traded for $269.

In central Saskatchewan, exotic steers with full processing on the card at 700 pounds, coming off cows and hay diet, reportedly sold for $347. At the Ste. Rose Auction Market, mixed larger frame steers with on the scale at 647 pounds notched the chart at $371. Black heifers weighing 615 pounds were on the report at $306.

In the Saskatoon region, tan bawling steers weighing 600 pounds sold for $362, while the younger lonely brothers at 550 pounds silenced the crowd at $373. In southern Manitoba, Simmental based steers off their mothers at 560 pounds silenced the crowd at $412, and Angus based heifers weighing 515 pounds moved through the ring at $360.

In central Alberta, a small package of red steers weighing 445 pounds reportedly traded for $430. In southern Saskatchewan, black steers weighing 430 pounds supposedly traded for $480 and the same quality heifers at 420 pounds were quoted at $405.

The USDA WASDE report had 2024 U.S. fourth quarter beef production at 6.3 billion pounds. This would be down nearly 400 million pounds from the fourth quarter of 2023. This lower production estimate appears to be reinforcing the price structure for lighter calves.

— 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.

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Optimal weather in southern Alberta caused major feedlot operators to stretch their hands across the Prairies. At the same time, Ontario orders were noted in major Alberta markets with buyers looking for the larger-frame Limousin-type blends. Major feedlot operators were aggressively bidding on larger packages of longer-term weaned calves. Unvaccinated bawlers were discounted severely. Feed grain prices in Alberta and Ontario were softer last week, which contributed to the stronger demand for calves.

Feeding margins will move into negative territory in January. Given the current value of August live cattle futures, feeding margins are deep in red ink for the summer period. It usually takes about 1.5 rounds of losses before feedlots adjust their purchase price for replacements.

In central Alberta, Simmental-based weaned calves averaging 860 lbs. sold for $305 and similar-quality and -genetic heifers weighing 827 lbs. dropped the gavel at $293. West of Winnipeg, Charolais short-weaned steers weighing 755 lbs. silenced the crowd at $332 and in the Yorkton area, black steers weighing 720 lbs. were valued at $328.

In central Saskatchewan, Angus mixed weaned steers with full health records weighing 710 lbs. were said to have traded for $328 and mixed larger-frame weaned heifers on the card at 690 lbs. sold for $290. North of Brandon, tan semi-weaned steers averaging 640 lbs. were last bid at $382; however, north of Calgary, mixed steers off their mothers and grass with processing records on the card at 635 lbs. reportedly traded for $360.

In Lloydminster, larger-frame tan steers weighing 593 lbs. traded for $376 and black heifers with 550 lbs. supposedly sold for $329. In the Saskatoon region, black steers weighing just over 500 lbs. reached $414. Southeast of Calgary, black Limousin-based steers weighing 530 lbs. apparently sold for $396 and similar-quality heifers weighing 525 lbs. notched the board at $350. At Ste. Rose, Man., the market report had black steers weighing 365 lbs. valued at $479.

The U.S. slaughter has come in lower than anticipated during October and November while market-ready fed cattle supplies are similar to year-ago levels. Cattle on feed 150 days or more are above year-ago levels for the first quarter of 2024. The western Canadian feeder market has significant downside risk over the next four months.

— 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.

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Eastern Prairie markets were firm, with larger packages of quality cattle trading a solid $3-$4/cwt higher. Feeder cattle are becoming fleshier at this time of year but discounts were limited off average values. Alberta feedlot inventories are up three per cent from year-ago levels but there was steady buying interest from larger operations, especially on 700-plus-lb. cattle. Yearling supplies were limited, which may have been a supportive factor. Despite a softer tone in deferred live cattle futures, feedlot operators are once again implementing the “hope factor” with ideas the market will strengthen in the spring timeframe. Moderate temperatures and drier weather in Alberta have been optimal for bringing in replacements. Feeding efficiencies tend to improve if calves can settle into the new environment without any stress.

In central Alberta, larger-frame weaned tan steer calves weighing just over 800 lbs. traded for $314. Northwest of Winnipeg, Charolais lower-flesh steers averaging 800 lbs. dropped the gavel at $324 and similar-quality heifers on the card at 760 lbs. sold for $299. North of Calgary, Simmental mixed semi-weaned steers with full health records averaging 741 lbs. were last bid at $331.

South of Edmonton, Charolais/Angus-cross steers coming off cows and grass diet with full health data and a scale weight of 630 lbs. were reported to have moved through the ring at $349. In central Saskatchewan, semi-weaned Angus-blended steers carrying 610 lbs. silenced the crowd at $362 and similar-quality heifers averaging 600 lbs. were said to have traded for $313. Northeast of Saskatoon, a larger package of Angus-based steers coming off cows and grass diet weighing 600 lbs. notched the board at $373.

In central Saskatchewan, semi-weaned tan steers weighing 560 lbs. were last bid at $387 and similar-quality heifers at 568 lbs. were reported to have traded for $332. West of Edmonton, black mixed weaned steers with full processing records on the card at 510 lbs. sold for $418. In Manitoba, Charolais-based steers straight off their mothers weighing 510 lbs. set the bar at $399.

The U.S. Department of Agriculture’s Cattle on Feed report had total inventories as of Nov. 1 up two per cent from last year and feedlot placements were up four per cent. Market-ready fed cattle supplies in the U.S. will be larger than anticipated in the first and second quarters of 2024.

— 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.

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The January feeder cattle futures closed Friday at $226.42/cwt, down $13.25/cwt for the week and were down $42/cwt from the September 15 high of $268.50. Quality groups of 600 pound plus cattle were very well bid late into the week and Manitoba auctions also were quite firm on Ontario buying interest.

Auction markets in Alberta reflected the weaker futures market with some average quality cattle trading $8 to $10 below week-ago levels. Given the lower futures in the deferred positions, feeding margins have moved into negative territory for the summer of 2024. On Thursday and Friday, certain feedlot operators sat on their hands and decided to wait until the futures market stabilized. The Lethbridge markets were firm all week.

North of Brandon, larger frame lower flesh Simmental based steers weighing 834 pounds sold for $317 and Charolais based steers averaging 800 pounds sold for $326. In the Saskatoon area, Angus based short weaned steers averaging 730 pound dropped the gavel at $343. In Central Alberta, tan steers off cows and grass averaging 755 pounds with full health data sold for $347. In the same region, shorter weaned black Limousin heifers just under 700 pounds were last bid at $310. Near Lethbridge, larger frame late summer weaned black steers carrying 710 pounds reportedly traded for $355.

North of Calgary, Simmental based steers off cows, grass and silage diet weighing 620 pounds sold for $360. At the Ste. Rose Auction, Charolais based steers weighing a shade over 600 pounds apparently sold for $371 and red heifers weighing 608 pounds notched the board at $312.

Southeast of Saskatoon, a larger group of semi-weaned processed mixed steers weighing 580 pounds sold for $380. In the same region, semi-weaned vaccinated red heifers weighing 558 pounds supposedly traded for $340. At the Lloydminster sale, a larger group of black steers weighing 540 pounds sold for $390 and similar quality heifers weighing 500 pounds notched the chart at $350.

In the November WASDE report, the USDA raised their first quarter beef production estimate by 235 million pounds. Beef supplies are larger than earlier anticipated. The live and feeder cattle futures appear to be incorporating a risk discount due to the uncertainty in demand. Consumers are pulling in the reigns on spending. Interest rates are at 40 year highs and inflation remains elevated. Larger supplies and lower demand results in lower prices.

— 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.

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The variation in the price structure was due to the adverse weather. Major feedlot operators were more aggressive on longer-term weaned calves with processing records. Fleshier unweaned calves traded slightly below week-ago levels but there was limited slippage. Manitoba and eastern Saskatchewan markets appeared to reflect a premium over major Alberta auctions. Once again there was very strong demand from Ontario and these orders gave the crowd a shot of adrenalin. One buyer commented that when certain packages made fresh highs, a scarcity fear seemed to cloud over the room, resulting in a firmer tone on the next run. There was no scrutiny on the price structure as “just get’ em”-type orders were evident, especially on some peewee calves.

Southeast of Calgary, medium- to larger-frame red mixed steers with some butter covering weighing 930 lbs. apparently sold for $288. In the same region, larger-frame lower-flesh Angus-based yearling steers coming off grass and hay diet weighing 822 lbs. were valued at $322. In central Saskatchewan, Simmental-based steers with medium flesh weighing 875 lbs. were reported to have traded for $300.

At Lloydminster, red weaned steers on the card at 749 lbs. apparently traded for $343. Northwest of Winnipeg, Charolais-based steers weighing 772 lbs. dropped the gavel at $339 and Charolais heifers weighing 676 lbs. silenced the crowed at $310.

In Ponoka, red Limousin steers off cows and grass with full processing data averaging 630 lbs. notched the board at $361. At the same sale, black Angus-based semi-weaned heifers weighing 661 lbs. off cows grass and hay sold for $300. In central Saskatchewan, tan steers appearing to be short weaned off their mothers weighing 605 lbs. traded for $371.

South of Edmonton, black mixed steers weighing 565 lbs. coming off a diet of cows and silage with full health records were purchased for $376. In Manitoba, Angus-based steers weighing a shade over 500 lbs. were reported to have sold for $415 and Charolais heifers on the card at 566 pounds were last bid at $336. In central Saskatchewan, Simmental-based steers weighing 450 lbs. reportedly traded for $443 and their younger brothers in a group averaging 400 lbs. set the chart at $493.

Alberta packers were buying fed cattle on a dressed basis at $390/cwt delivered, unchanged from last week. The Alberta fed cattle basis over the winter could deteriorate similar to last year causing margins to move into negative territory. For March, the break-even pen closeout value is around $265/cwt. On Friday, the best one can hope for, given the April live cattle futures, was $250/cwt.

— 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.

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Adverse weather conditions across the Prairies didn’t temper buying enthusiasm. Major feedlot operators were actively securing ownership across all weight categories. There was a cautious tone on yearlings but quality packages experienced limited slippage. We’re entering the period when fleshier types come on the market. Unweaned bawlers were discounted accordingly while pre-conditioned vaccinated groups were well bid. Larger volumes are coming on the market and with that surge in supply, the variable in quality increases. Backgrounding operators were picking away at off-type cattle and bull calves. Some care and processing can bring these cattle up to quality backgrounding standards. The weaker Canadian dollar has been supportive.

Northwest of Winnipeg, late-blooming Charolais yearling steers off grass weighing 911 lbs. traded for $308 and mixed heifers weighing 835 lbs. dropped the gavel at $289. There were limited yearlings on offer last week.

In central Alberta, Charolais-Simmental blended steers weighing 830 lbs. coming off cows and grass diet with full processing data averaging 830 lbs. traded for $300. At the same sale, tan heifers off cows and grass with full health records carrying 773 lbs. were last bid at $283. In Lloydminster, medium- to larger-frame black weaned steer calves weighing around 790 lbs. were reported to have sold for $315.

In Manitoba, Simmental-blended steers off cows and grass diet weighing 640 lbs. silenced the crowd at $355 and similar-quality heifers averaging 630 lbs. moved at $303. In central Saskatchewan, tan semi-weaned steers weighing 672 lbs. reportedly sold for $356. South of Edmonton, red Angus-mixed semi-weaned steers weighing a shade over 600 lbs. notched the charts at $349. In the Saskatoon area, silver heifers weighing 580 lbs. were last quoted at $310.

In central Alberta, black Limousin-mixed calves weighing just over 500 lbs. supposedly traded for $425. In Meadow Lake, a larger group of black steers weighing 500 lbs. traded at the psychological level of $400 and black heifers weighing 505 lbs. moved through the ring at $323. Northwest of Winnipeg, black steers with a scale weight of 422 lbs. were valued at $477.

Basis levels for calves have strengthened with the weaker futures market. The January feeder futures are down $30 from the recent highs but the cash market for calves in Western Canada hasn’t missed a beat.

— 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.

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Buying interest for yearlings is waning. Northwest of Winnipeg, a smaller group of Charolais steers weighing 882 lbs. sold for $331. In central Saskatchewan, larger-frame mixed steers off grass weighing 830 lbs. were quoted at $320 and mixed yearling heifers weighing 860 lbs. apparently sold for $286. In southern Alberta, Angus-blended steers weighing 830 lbs. reportedly sold for $318.

In Manitoba, red mixed semi-weaned steer calves averaging 722 lbs. were quoted at $348. Northwest of Saskatoon, exotic steers on the card at 735 lbs. were said to have traded at $350 and Angus-based heifers with a scale weight of 730 lbs. were valued at $301.

Southeast of Saskatoon, Angus-based steers weighing 655 lbs. reportedly sold for $376. In central Alberta, Simmental-blended steers carrying 630 lbs. dropped the gavel at $366 and similar-quality heifers averaging 612 lbs. sold for $324.

Northwest of Winnipeg, Charolais-based steers weighing 560 lbs. were last-bid at $401 and similar-quality heifers averaging 507 lbs. silenced the crowd at $358. Northeast of Saskatoon, British-based steers weighing a shade over 500 lbs. set the bar at $405. South of Edmonton, tan steers weighing 467 lbs. drew grasps from the crowd with the last bid surfacing at $452 and a smaller group of mixed heifers weighing 471 lbs. topped out at $344.

Higher prices have pulled more cattle to the market. September placements in Alberta and Saskatchewan were higher than anticipated. Friday’s USDA Cattle on Feed report also had placements up six per cent from 12 months earlier. The feeder market feels vulnerable at the current levels.

— 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.

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