Cattle Market Pulse

Billings Livestock Commission Cattle Auction Market Report

Billings, Montana · USDA-reported Auction Livestock

Sale of Thursday, July 23, 2026

931 head sold ·Official USDA report

light 8-weight M&L 1 heifers $334.38/cwt ≈ $2,779/hd at 831 lb · 40 head
heavy 8-weight M&L 1 heifers $327.43/cwt ≈ $2,885/hd at 881 lb · 34 head
light 9-weight M&L 1 heifers $321.00/cwt +6.50 vs last sale · ≈ $2,982/hd at 929 lb · 29 head
HeadThis saleLast saleLast year
Total receipts 931 879 688
Feeder cattle 401 302 238
Slaughter cattle 409 390 390
Replacement cattle 121 187 60

Compared to last week (7-16-26): Feeder cattle were all too lightly tested last week to develop an accurate market trend, however lower undertones were noticed on all offerings. Quality this week was mixed from plain to attractive. Several sets of yearlings coming off grass were seen this sale. Demand was mostly moderate to good for light offerings. CME positions have fallen drastically over the last week and buyers showed slightly lighter demand for feeders as a result. Group sizes were small to moderate with many singles noticed. Market activity was mostly moderate to active with a small to moderate size buyer pool noticed. Weigh up cows sold on moderate demand and light offerings. Demand for feeding cows was mostly moderate. Canadian buyers continue to buy cows to ship north and feed. American packers showed a desire to purchase cows lower and showed slightly lighter demand for all cows on offer. Boning and lean fleshed feeding cows sold mostly 2.00-5.00 lower, while breaking flesh cows sold 1.00-2.00 lower. Cow quality was mostly plain to average and overall not as attractive as the previous week. Demand for slaughter cows was mostly moderate with moderate to good demand seen at times. Slaughter cows sold generally steady to weak in a narrow comparison. Slaughter bulls sold mostly 3.00-5.00 lower. Feeding bulls were too lightly tested to develop an accurate market trend, however lower undertones were noticed. Weigh up conditions were mixed with both full and empty cows noticed. Young age offerings suitable to feed or rebreed were too lightly tested to develop any market trend. Demand for young rebreed cows was mostly moderate to good on an average quality offering.

New to these tables? Plain-English explainers ↓

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
330 unweaned 330 1 630.00 $630.00 $2,079 -20.00
805–844 818 28 350.00–355.00 $354.00 $2,896
860–892 880 26 339.00–351.50 $345.97 $3,045
935 935 2 334.00 $334.00 $3,123
988 988 20 330.00 $330.00 $3,260
1003 1003 2 323.00 $323.00 $3,240
1058 1058 2 316.00 $316.00 $3,343
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1110 1110 6 306.00 $306.00 $3,397
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
711 711 4 385.00 $385.00 $2,737 +3.00
883 883 2 340.00 $340.00 $3,002
Medium 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
573 573 2 380.00 $380.00 $2,177

↑ Back to top

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
658 658 16 370.00 $370.00 $2,435
710–732 730 12 350.00–352.00 $350.16 $2,556 -9.84
775 775 2 340.00 $340.00 $2,635 -18.00
830–833 831 40 331.00–338.50 $334.38 $2,779
862–888 880 31 325.00–332.00 $329.92 $2,903
890–893 892 3 295.00–315.00 $301.65 $2,691
929 929 29 321.00 $321.00 $2,982 +6.50
1085 1085 4 274.00 $274.00 $2,973
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
746 746 4 336.00 $336.00 $2,507 -14.00
775 775 5 327.50 $327.50 $2,538 -17.50
1112 1112 3 279.00 $279.00 $3,102
Medium 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
519 519 4 360.00 $360.00 $1,868
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1127 1127 3 250.00 $250.00 $2,818
Medium 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
625 625 2 335.00 $335.00 $2,094
Medium and Large 2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
343 343 2 410.00 $410.00 $1,406

↑ Back to top

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
494 unweaned 494 6 452.50 $452.50 $2,235
630–640 unweaned 635 2 380.00–385.00 $382.48 $2,429
850 850 2 305.00 $305.00 $2,592
Medium 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
527 527 3 405.00 $405.00 $2,134
Medium 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
542 542 3 370.00 $370.00 $2,005
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1085 1085 2 265.00 $265.00 $2,875

↑ Back to top

Boner ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
1270 1270 80-85% 1 121.00 $121.00 $1,537 -25.00
1260–1418 1294 80-85% 18 184.00–189.00 $185.73 $2,403 +39.73
1320 1320 80-85% 1 140.00 $140.00 $1,848 -17.46
1260–1525 1380 80-85% 19 149.00–165.00 $160.90 $2,220
1270–1640 1410 80-85% 3 164.00–168.00 $165.59 $2,335 -17.97
1300–1548 1413 80-85% 8 149.00–158.00 $154.07 $2,177 -29.49
1260–1770 1421 80-85% 71 167.00–182.50 $178.63 $2,538 -4.93
Lean ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
873–980 895 85-90% 6 140.00–165.00 $159.18 $1,425
940 940 85-90% 1 127.50 $127.50 $1,198
1000 1000 85-90% 1 160.00 $160.00 $1,600
1095–1280 1186 85-90% 4 146.00–155.00 $150.99 $1,791
1200 1200 85-90% 1 140.00 $140.00 $1,680 -25.43
1150–1285 1204 85-90% 4 172.00–182.00 $175.44 $2,112 +10.01
1181–1286 1222 85-90% 15 150.00–167.50 $154.32 $1,886 -11.11
Breaker ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
1533 1533 75-80% 2 182.00 $182.00 $2,790
1478–1715 1601 75-80% 10 170.00–174.00 $172.75 $2,766 -10.25
1500–1631 1605 75-80% 5 151.00–166.00 $163.20 $2,619 -19.80
1518–1735 1635 75-80% 10 168.00–173.50 $170.25 $2,784 +1.25

↑ Back to top

YG1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
905–1365 1160 4 167.50–191.00 $182.62 $2,118 -6.94
1310–1440 1359 7 190.00–197.50 $194.23 $2,640
1468–1695 1579 7 192.50–205.00 $201.25 $3,178
1595–1698 1672 4 205.00–212.50 $210.71 $3,523
1390–2100 1769 19 184.00–206.00 $201.85 $3,571
1710–2355 1966 8 219.00–226.00 $221.80 $4,361
1390–2325 1977 33 207.00–218.00 $211.38 $4,179
1793–2285 1986 18 208.00–219.00 $212.72 $4,225
1890–2315 2140 5 225.00–235.00 $230.01 $4,922
2790 2790 1 221.00 $221.00 $6,166
YG2-3 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
2335 2335 1 211.00 $211.00 $4,927

↑ Back to top

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
1005–1223 1149 (<2 yrs)Open 7 235.00–265.00 $250.43 $2,877
1115–1405 1232 Young (2-4 yrs)Open 16 188.50–265.00 $217.07 $2,674
1313 1313 Young/Middle Aged (2-8 yrs)Open 3 179.00 $179.00 $2,350
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
990–1395 1170 Young (2-4 yrs)Open 4 181.00–262.50 $203.00 $2,375
Medium 1-2 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
755 755 Young (2-4 yrs)Open 1 240.00 $240.00 $1,812

↑ Back to top

Medium and Large 1-2 ($/head)
Weight (lb) Avg wt AgeStage Head Price range Avg $
1264 1264 Young (2-4 yrs)1st/2nd Stage (1-6 mo) 4 2,900.00 $2,900.00
Medium and Large 1 ($/head)
Weight (lb) Avg wt AgeStage Head Price range Avg $
1173 1173 (<2 yrs)3rd Stage (7-9 mo) 2 3,150.00 $3,150.00
1325 1325 Young (2-4 yrs)1st/2nd Stage (1-6 mo) 1 3,000.00 $3,000.00

↑ Back to top

Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
829 829 5 311.00 $311.00 $2,578
926 926 25 307.50 $307.50 $2,847

↑ Back to top

Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
947 947 32 328.00 $328.00 $3,106
1027 1027 12 312.00 $312.00 $3,204

↑ Back to top

Medium and Large 1-2 ($/head)
Weight (lb) Avg wt AgeStage Head Price range Avg $ Δ last sale
1189 1189 Middle Aged (5-8 yrs)Open 5 3,775.00 $3,775.00
1430–1558 1515 Aged (>8 yrs)Open 3 3,500.00–3,800.00 $3,705.63 +255.63

↑ Back to top

What does "Medium and Large 1" mean?

USDA feeder grades describe frame size and muscle thickness, not quality of the individual animal. "Medium and Large" is the frame score; the number is muscle (1 = heaviest muscled). "Medium and Large 1–2" pens mix both muscle scores — common across the Southeast.

What is $/cwt?

Dollars per hundredweight — per 100 lb of animal. A 500-lb calf at $450/cwt brings 5 × $450 = $2,250. Lighter cattle usually bring more per cwt but less per head.

Why are some prices per head?

Bred cows, cow-calf pairs, and some replacement classes sell by the head, not by weight. We show those exactly as USDA reports them — a $/head figure is never converted into $/cwt on this site.

Where do these numbers come from?

From the USDA Agricultural Marketing Service's Livestock Market News — federal reporters at the sale. We publish each report in full and link the official USDA document at the top of the page.