Spring momentum is building across Ontario's auction markets. Fed cattle pricing strengthened this week, while spring feeder demand stayed active despite seasonal supply. Here's what the numbers reveal.
Fed Steers: Solid Mid-Week Strength
Large frame fed steers (over 1,250 lbs) averaged $334.35/cwt across 94 head, with a range stretching from $317.81–$347.69/cwt and individual tops hitting $424/cwt. That's roughly $5,585 per animal at the average, with average weight sitting at 1,668 lbs.
Medium frame steers over 1,250 lbs came in lower at $326.32/cwt (average 1,582 lbs, range $312.93–$339.35/cwt), translating to about $5,160 per head—a $425 gap between frame sizes that reflects processor preference for larger carcasses.
Combined large and medium frame steers (all weights over 1,250 lbs) hit $329.77/cwt on 186 head at an average weight of 1,626 lbs—roughly $5,365 per steer. The smaller cohorts (1,001–1,250 lbs) saw sharply higher quotes at $346–$377/cwt, a typical spring anomaly driven by fewer lighter fed cattle available.
Fed Heifers: Steady Processor Demand
Large frame heifers over 1,000 lbs averaged $330.55/cwt across 132 head (range $320.30–$340.58/cwt, tops at $395/cwt), with average weight of 1,459 lbs. That's roughly $4,818 per animal—solid processor interest.
Medium frame heifers in the same weight class matched them nearly exactly at $330.44/cwt on 165 head (average 1,445 lbs, range $319.18–$340.71/cwt), putting them just $47 per head below large frame peers. Combined large and medium frame heifers hit $330.15/cwt on 297 head—a remarkably tight grouping that speaks to consistent bidding from packers.
Dairy and dairy cross heifers, as expected, ran softer. Over 1,000 lbs they averaged just $272.36/cwt on 78 head (range $240.98–$295.58/cwt), a full $58/cwt discount to beef-type heifers—translating to roughly $3,577 per 1,314 lb animal.
Cows & Bulls: Spring Bidding Patterns
Cows pulled $216.96/cwt across all weights (1,310 head, range $175.70–$262.87/cwt, tops at $375/cwt), averaging 1,448 lbs per animal. That's roughly $3,144 per cull cow—modest but consistent with spring market dynamics when processors have steady throughput.
Heavy bulls (over 1,600 lbs) commanded proper respect at $283.39/cwt on 44 head, averaging 1,995 lbs each—about $5,653 per animal. Lighter bulls (under 1,600 lbs) trailed at $270.72/cwt on 37 head (average 1,262 lbs), good for roughly $3,415 per head. The $1,000+ premium for heavier bulls is standard—processors value the higher yield.
Spring Stockers: Lighter Steers Hold Price Premium
Stocker steers (large and medium frame combined) showed classic spring weight-class pricing:
Light stockers (under 500 lbs): Topped the price scale at $793.40/cwt on 204 head, averaging 419 lbs—roughly $333 per calf. These lightweight prospects carry premium pricing because feeders see room for growth.
500–599 lbs: $666.63/cwt on 336 head, averaging 548 lbs—about $365 per animal.
600–699 lbs: $621.05/cwt on 379 head, averaging 653 lbs—roughly $406 per steer. This is where feeder volume really sits.
700–799 lbs: $564.25/cwt on 291 head, averaging 753 lbs—about $425 per animal.
800–899 lbs: $529.73/cwt on 263 head, averaging 840 lbs—roughly $445 per head.
Over 1,000 lbs: Heavier feeders dropped to $450.94/cwt on 780 head, averaging 1,060 lbs—about $478 per animal. The market is saying lightweight steers have more perceived upside.
Stocker heifers followed similar logic but at consistent discounts: 500–599 lbs averaged $578.91/cwt (compared to $666.63 for steers same weight), and 600–699 lbs came in at $543.06/cwt (vs. $621.05 for steers). Roughly a 10–12% discount across the board—typical for female replacements.
Veal Calves: Solid Mid-Week Tone
Veal over 600 lbs averaged $373.45/cwt on 474 head, ranging $331.71–$404.05/cwt with tops at $520/cwt. Average weight 793 lbs translates to roughly $2,966 per calf—steady processor interest in spring dairy calves.
What This Week Tells Us
Fed cattle: Strength in large frame steers and consistent heifer pricing suggests processors are covering their needs without pushing bids hard—which is healthy. The medium frame steer discount vs. large frame ($334.35 vs. $326.32) is real money and reflects what packers are willing to pay for ribeye and loin size.
Feeders: Spring supply is active (780 head of heavy stockers alone), but lighter calves command premium pricing. If you're buying feeders, budget for the weight effect: a 450 lb calf at $793/cwt costs about $357; jump to 700 lbs at $564/cwt and you're at $395—heavier animals spread the feed costs but today's market rewards the lighter prospects.
Cows: $217/cwt average is solid spring bidding. Processor confidence seems steady rather than aggressive.
The tone: steady, competitive, typical May behavior. If you're hitting the auction this week, fed steer packers are in the $326–$335/cwt range depending on frame; feeder buyers are sorting by weight and frame, with visible premiums for prospects that can grow.
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Data source: Ontario Beef Farmers weekly market report, May 8–14, 2026. All prices in Canadian dollars per cwt. Weights and per-head calculations based on average weights reported by auction markets. Ontario Direct Trade and processed beef summary omitted this week pending final report publication. CME futures data unavailable at report time.