Shrinking herds and strong demand push prices to new highs.
Winnipeg Livestock Sales Ltd. is reporting one of the strongest cattle markets in recent memory, fuelled by shrinking herd numbers and growing global demand for North American beef.
Field representative Scott Anderson said the auction yard continues to see steady volumes move through the ring, even as prices surge.
“In the past year, we’ve seen cattle prices double from previous all-time highs,” he said. “That is why things are so expensive in all areas of the market. The supply isn’t there while the demand is — and the cost of beef is going to the moon.”
He said the strength stretches beyond Canada’s borders with foreign buyers increasingly active in the market.
“North America is exporting more beef than ever as foreign buyers are choosing North American products,” Anderson said. “It’s encouraging to see the market stay this strong even though there seem to be fewer cattle available each year.”
Lower feed costs have also helped support pricing, Anderson added. Weather has not had a significant effect this year, allowing markets to remain relatively stable.
One moment of uncertainty came when former U.S. president Donald Trump suggested beef prices should drop for consumers — commentary that briefly shook cattle markets.
“Some comments suggested beef should be cheaper for consumers, but that comes at the expense of the producers,” Anderson said. “If retail prices go down, cattle prices have to go down too. That created a general sense of negativity in the markets.”
The situation has since settled after signs the U.S. government intends to support beef producers.
“At the end of the day, the question we’re always asking is, what is a market-ready fat steer going to be worth? Producers work back from there,” he said.
Winnipeg Livestock Sales hosts cattle auctions every Friday and goat and sheep sales on the first and third Wednesday of each month. The business also acts as an agent for The Electronic Auction Market (TEAM), which runs virtual sales on Fridays.
Those online platforms have widened access for buyers and sellers, Anderson said. Brokers often represent dozens of producers, bringing competition into the ring from well beyond Manitoba.
“It’s buyer beware. Good cattle bring higher prices with the beauty being in the eye of the beholder,” he said. “Our job is to sort and show the cattle well so buyers know what to expect.”
He said auction markets also provide financial security producers don’t always receive in private sales.
“When livestock sells here, producers can pick up their cheque that day. There’s no worry about being scammed by a buyer,” he said. “Through a licensed and bonded market, you know you’ll be looked after.”
Heading into 2026, Anderson expects strength to continue and encourages producers to keep cattle in top condition if they want to capture the top end of the market.
“With prices at all-time highs, there are big discounts on animals that come into the ring looking tired or unwell,” he said. “Cattle that look bouncy and shiny always bring a premium. Keep them vaccinated, fed and cared for — you never want them sick or dead before they reach the market.”
