Ontario Beef Market Recap — September 19, 2026

The Numbers This Week

Week ending Thursday, September 17, 2026. Ontario auction markets moved 7,390 head total, with fed cattle, stockers, and cull cows all seeing price bumps. Let's break it down.

Fed Cattle: Higher, But Still Well Behind Last Year

Fed steers averaged $295.94/cwt through Ontario auctions, up $6.13 from last week's $289.81. Fed heifers averaged $290.73/cwt, up $5.09 from $285.64. Only 459 head sold through auctions, 164 more than last week but 36 fewer than the same week last year.

Here's what that means per animal:

• A 1,400 lb fed steer at $295.94/cwt = $4,143
• A 1,300 lb fed steer at $295.94/cwt = $3,847
• A 1,100 lb fed heifer at $290.73/cwt = $3,198

But before anyone gets excited, those averages are still $31.15/cwt below year-ago levels for steers and $34.44/cwt lower for heifers. That same 1,400 lb steer would have brought roughly $4,580 this week last year. You're looking at about $437 less per head.

Ontario direct-to-packer railgrade trade was quiet, reported at $490-500/cwt on a carcass basis for both A Grade steers and heifers. Light trade was reported $10-15/cwt higher than last week.

Out West, Alberta dressed sales came in at $495/cwt delivered, at the top end of last week's range. The Quebec electronic market sold at $487/cwt dressed, up $6.13 from the previous week.

Cull Cows: Bounce From Last Week, Still Down Big Year-Over-Year

Cull cow receipts were 1,580 head, 284 more than last week but 73 fewer than last year. Cows averaged $165.00/cwt, up $8.41 from last week's $156.59. Beef cows specifically averaged $193.75/cwt, up $8.19.

• A 1,400 lb cull cow at $165/cwt = $2,310
• A 1,200 lb cull cow at $165/cwt = $1,980
• A 1,400 lb beef cow at $193.75/cwt = $2,713

Year-ago prices were about $196/cwt. That same 1,400 lb cow would have fetched roughly $2,744 a year ago, about $434 more than today. Cull cows sold slightly easier at Keady but traded stronger at Denfield.

Stocker & Feeder Cattle: The Real Action

This is where things got interesting. Total stocker and feeder receipts hit 3,476 head, up 696 from the previous week but 1,249 fewer than the same week last year. Steer prices were up $18.69/cwt on average. Heifers were up $9.99/cwt.

The lighter the calf, the higher the price, and the bigger the week-over-week jump:

What that looks like per animal:

• A 550 lb steer calf at $608.31/cwt = $3,346 (up ~$164 from last week's $578.55)
• A 450 lb steer calf at $692.84/cwt = $3,118 (up ~$149 from last week)
• A 950 lb steer at $462.15/cwt = $4,390 (up ~$272 from last week)

Heifer calves tracked similarly. The 500-599 lb class jumped nearly $42/cwt to $557.69, and 600-699 lb heifers were up almost $40/cwt to $500.08.

One exception: under-399 lb steers actually slipped $3.84/cwt, and 300-399 lb heifers dropped $20.83/cwt. The very light end is seeing some softness even as everything else rallies.

Auction Barn Highlights

Several individual sales told the story across the province:

• Brussels Livestock (Sep 11): 680 stockers. Fed steers and heifers sold $5-8/cwt higher here. 400-499 lb steers averaged $582.50 with a top of $675.
• Keady Livestock Market (Sep 15): 708 stockers. 800-899 lb steers averaged $476.13, top $495. Cull cows sold slightly easier here.
• Denfield Livestock Exchange (Sep 15): 192 fed cattle. Fed steers averaged $297.69, top $339. Cows traded stronger, averaging $164.13.
• Ontario Livestock Exchange (Sep 17): 467 stockers. 400-499 lb steers averaged $702.81, top $820. Feeder cattle sold actively at higher prices.
• Ontario Stockyards Inc (Sep 17): 630 stockers. 400-499 lb steers averaged $741.58, top $800. Under-399 lb steers hit $805 average with a $970 top.

Processing & Export Picture

For the week ending September 12, Eastern Canadian processing was 8.7% above year-ago levels but 5% below the five-year average. YTD processing is running 1% ahead of last year, with heifers up 5% but bulls down 22%.

Average carcass weights in Ontario are ticking up. Steers came in at 980 lbs for the week ending September 12, up from 987 the prior week but 15 lbs heavier than last year's 965. Heifers were at 868 lbs, down from 880 the prior week but 21 lbs above year-ago.

Eastern fed cattle and cow exports to the U.S. for the week ending September 5 were 2,368 head, 14% lower than last year. YTD Eastern exports are down 5%.

Canadian beef exports through July are up 4% compared to last year, with shipments to China hitting record levels. Beef imports are up 9% YTD, driven largely by a 52% surge from Australia.

U.S. Market & Macro

U.S. cash cattle trade was quiet through midday Friday. Bids of $224/cwt in the South and $342-350/cwt in Nebraska were being passed. Trade eventually occurred after hours at $350/cwt dressed in the North, $5 stronger than last week. Live sales ranged $222-224/cwt.

Choice boxed beef cutout was $375.06/cwt, Select at $354.10/cwt. Choice ribs were $9/cwt higher, within a couple dollars of their December 2024 highs. US 90% trim prices have dropped 4% over the past couple weeks.

On the macro side, August U.S. inflation held steady at 3.4%, above the Fed's target. The USDA revised 2026 beef production down again, now estimated 4% smaller than last year. U.S. ground beef averaged $6.92/lb in August, up 10% from a year ago.

On the CME, live cattle futures were mostly firm: October at $215.93, December at $216.63. Feeder cattle were softer: September at $333.58, October at $323.50. Corn was down 3 cents at $5.274/bushel for December, which helps feed costs for backgrounders.

Upcoming Fall Sales

The fall special sale calendar is packed. Notable upcoming sales:

• September 25: Keady Livestock (Special Grass Yearling Sale), Hoard's Station (Quinte Cattlemen's Mixed Sale), Cargill Auction Market (Char. & Exotic Yearlings)
• September 26: Stratton-Rainy River (Fall Stocker Sale), Denfield (Vaccinated Calves & Yearlings), Brussels (Bred Cow Sale)
• September 30: Aylmer Stockyards (Fall Stocker Sale), Vankleek Hill (Stocker Sale)
• October 1: Ontario Livestock Exchange (Special Vaccinated Calf Sale), Keady (Special Grass Yearling Sale)
• October 2: Brussels (Simmental Influence Sale), Cargill (Char. & Exotic Yearlings)

Bottom Line

Fed cattle found their footing with a $6/cwt bump, but year-over-year comparisons are still ugly, running $31-34/cwt behind 2025. Stocker and feeder cattle stole the show, with most weight classes up $20-33/cwt on the week. Light calves are holding $600-770/cwt, meaning a 550 lb steer calf is a $3,300+ animal right now. Cull cows bounced $8/cwt but remain $31/cwt below last year. The USDA trimming 2026 production estimates another 4% and U.S. ground beef hitting $6.92/lb both point to a tighter supply picture ahead. With fall special sales kicking off next week, all eyes are on whether feeder prices hold at these levels as volume ramps up.

— The Butcher's Journal

Data sourced from the Beef Farmers of Ontario Weekly Market Report. Published every Saturday by The Butcher's Journal.