Cattle Market Pulse

Public Auction Yards Livestock Cattle Auction Market Report

Billings, Montana · USDA-reported Auction Livestock

Sale of Friday, February 23, 2024

6,017 head sold ·Official USDA report

This is an archived report. See the latest Public Auction Yards Livestock Cattle Auction report →

heavy 6-weight M&L 1 heifers $262.46/cwt +14.82 vs last sale · ≈ $1,760/hd at 671 lb · 500 head
heavy 5-weight M&L 1 heifers $294.19/cwt +13.96 vs last sale · ≈ $1,687/hd at 573 lb · 401 head
light 6-weight M&L 1 heifers $277.05/cwt +15.45 vs last sale · ≈ $1,732/hd at 625 lb · 381 head

Receipts

HeadThis saleLast saleLast year
Total receipts 6,017 1,521 1,650
Feeder cattle 5,825 1,474 1,637
Slaughter cattle 50 27 13
Replacement cattle 142 20 0

Market comments — USDA reporter

Compared to last sale: The last Friday feeder special was over one month ago and market conditions have improved drastically since that sale. All feeder steers and heifers sold with higher to sharply higher undertones. Demand for all feeder cattle was good to very good today. Offerings were heavy as over 5,700 feeders were on offer. The best demand continues to be for cattle suitable to develop into yearlings. As long as the cattle were in light flesh, steers up to 725 lbs and heifer up to 675 lbs were purchased for this purpose. Order buyers buying for packers showed very good demand for long strings of high quality, uniform cattle. Most calves were weaned over 60 days. Quality this sale was mostly average to very attractive. A small portion of the heifer offering was purchased for replacements, however most heifers were purchased to feed as demand from yearling buyers and corporate packers was very good. Package sizes were mixed today. Several load lots were seen this sale, with two consigners offering multiple loads all off one ranch. The cattle on feed report was released at 1:00 local time today and it showed cattle on feed up slightly, placements down 7% and marketings down slightly in the month of January. Market activity was mostly active today. A large buyer pool was noted as the stands were packed throughout the day. A good mix of order-buyers and ranchers were active in buying cattle this sale. Weigh up cows and bulls were too lightly tested to develop an accurate market trend, however steady undertones were noticed, compared to Wednesdays sale. Demand was mostly good for very light offerings. Young age cows sold on good demand today. An attractive offering of coming 3 year old's were seen today and these offerings sold on very good demand. Several rebreed buyers were active in bidding on these offerings. Young age cows sold with steady to higher undertones in a narrow comparison.

New to these tables? Plain-English explainers ↓

Feeder Steers

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
350–387 362 15 375.00–387.50 $383.05 $1,387 +21.41
403–446 430 22 360.00–375.00 $366.49 $1,576 +25.49
463–499 487 53 350.00–371.00 $357.72 $1,742 +24.76
503–546 518 157 329.00–354.00 $345.04 $1,787 +30.08
550–599 569 167 318.00–335.00 $325.88 $1,854 +26.57
603–647 626 285 295.00–328.50 $315.82 $1,977 +20.63
651 thin fleshed 651 35 303.00 $303.00 $1,973 +6.00
650–678 663 102 280.00–296.00 $285.96 $1,896 +2.89
675–681 677 29 275.00 $275.00 $1,862 -8.07
704–743 720 276 266.00–286.50 $277.30 $1,997 +22.72
718–724 723 33 246.00–250.50 $246.82 $1,785 -7.76
754–774 764 114 246.00–261.00 $253.12 $1,934 +10.12
768 768 4 231.00 $231.00 $1,774 -12.00
807 807 353 255.50 $255.50 $2,062 +25.38
809–813 809 26 240.00 $240.00 $1,942 +9.88
869 869 25 247.50 $247.50 $2,151 —
911–926 922 32 223.00–224.00 $223.72 $2,063 —
970 970 5 215.00 $215.00 $2,086 —
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
252 252 3 400.00 $400.00 $1,008 —
338 338 2 362.50 $362.50 $1,225 +32.50
370–373 372 3 370.00 $370.00 $1,376 —
413–448 426 38 342.00–360.00 $346.32 $1,475 +26.32
457–495 473 25 325.00–348.00 $337.47 $1,596 +16.70
515–538 535 50 312.00–332.50 $319.76 $1,711 +19.48
558–583 565 72 300.00–317.00 $310.79 $1,756 +29.79
600–647 633 50 276.00–297.50 $284.40 $1,800 +11.82
656–698 681 80 252.50–277.00 $269.86 $1,838 +21.67
720–749 740 30 245.00–255.00 $252.40 $1,868 +27.40
774 774 4 245.00 $245.00 $1,896 —
819 819 4 237.00 $237.00 $1,941 —
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
507–548 532 13 296.00–302.00 $298.20 $1,586 —
556 556 5 298.00 $298.00 $1,657 —
600–610 604 58 285.00–298.00 $293.34 $1,772 —
663–694 680 13 252.00–272.00 $261.00 $1,775 —
750 750 4 240.00 $240.00 $1,800 —
910 910 25 220.00 $220.00 $2,002 —
Medium 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
528 528 14 316.00 $316.00 $1,668 —
567–584 582 45 286.00–308.00 $302.01 $1,758 —
685 685 22 267.00 $267.00 $1,829 —
854 854 6 221.00 $221.00 $1,887 —
Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
545 545 21 260.00 $260.00 $1,417 —
588 588 7 253.00 $253.00 $1,488 —
Medium and Large 2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
492 492 11 310.00 $310.00 $1,525 —
501 501 6 306.00 $306.00 $1,533 —

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Feeder Heifers

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
430–447 438 42 324.00–328.00 $325.01 $1,424 +18.01
450–496 463 119 310.00–325.00 $316.17 $1,464 +16.75
502–548 526 184 300.00–314.00 $307.57 $1,618 +10.16
556 fancy 556 19 311.00 $311.00 $1,729 —
553–587 574 376 280.50–305.00 $293.90 $1,687 +13.67
589 589 6 259.00 $259.00 $1,526 -21.23
600–639 623 320 265.50–284.50 $277.25 $1,727 +15.65
637 637 61 276.00 $276.00 $1,758 +14.40
662 662 233 266.50 $266.50 $1,764 +27.60
653–698 678 267 250.00–266.00 $258.93 $1,756 +20.03
704 fancy 704 12 260.00 $260.00 $1,830 —
721 721 19 252.00 $252.00 $1,817 +28.00
713–740 728 34 239.50–248.00 $245.68 $1,789 +21.68
744 744 7 232.00 $232.00 $1,726 +8.00
750–790 fancy 763 30 245.00–247.00 $245.74 $1,875 —
759–798 766 89 231.00–236.00 $234.08 $1,793 —
829–834 832 24 225.00–229.00 $227.51 $1,893 —
848 848 11 231.50 $231.50 $1,963 —
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
356–391 372 71 310.00–335.00 $326.45 $1,214 +21.45
472–478 473 19 303.50–305.00 $303.66 $1,436 +21.66
500–549 532 66 280.00–298.00 $289.48 $1,540 —
557–597 587 25 270.00–281.00 $278.28 $1,634 +25.27
611–648 624 63 255.00–265.00 $259.86 $1,622 —
662–684 675 13 245.00–248.00 $247.11 $1,668 —
712–713 712 5 233.00–235.00 $234.20 $1,668 —
753–775 762 12 223.00–227.00 $226.15 $1,723 —
921–938 932 17 200.00–205.00 $203.26 $1,894 —
Medium 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
429 429 6 320.00 $320.00 $1,373 —
469–496 485 30 287.50–305.00 $296.52 $1,438 —
514–539 522 28 286.00–296.00 $292.68 $1,528 —
569–590 577 47 256.00–277.25 $269.39 $1,554 —
664 664 31 247.00 $247.00 $1,640 —
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
583 583 3 271.00 $271.00 $1,580 —
607 607 25 262.50 $262.50 $1,593 —
845 845 25 228.00 $228.00 $1,927 —
Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1005 1005 39 168.00 $168.00 $1,688 —
Large 2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1001 1001 21 155.00 $155.00 $1,552 —
1112 1112 9 144.00 $144.00 $1,601 —
Medium 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
400–445 420 18 282.50–295.00 $285.94 $1,201 —
614 614 6 240.00 $240.00 $1,474 —
Medium and Large 2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
301 301 6 285.00 $285.00 $858 —
492 492 13 291.00 $291.00 $1,432 —

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Feeder Bulls

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
448 448 20 332.50 $332.50 $1,490 —
457 457 3 320.00 $320.00 $1,462 —
559 559 7 309.00 $309.00 $1,727 —
670 670 5 260.00 $260.00 $1,742 +32.00
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
428 428 2 330.00 $330.00 $1,412 —
515 515 5 305.00 $305.00 $1,571 —

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Slaughter Cows

Boner ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
1293–1380 1328 80-85% 5 111.00–113.00 $112.17 $1,490 —
1375–1412 1396 80-85% 6 106.00–113.00 $111.10 $1,551 —
1390–1440 1417 80-85% 6 100.00–105.00 $102.18 $1,448 —
1520 1520 80-85% 1 115.00 $115.00 $1,748 +5.00
Lean ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
870 870 85-90% 1 87.00 $87.00 $757 —
915–1210 1081 85-90% 5 99.00–102.00 $100.51 $1,087 —
1100 1100 85-90% 1 112.00 $112.00 $1,232 —
1110 1110 85-90% 1 82.00 $82.00 $910 —
1130–1245 1187 85-90% 5 108.00–112.00 $110.60 $1,313 +4.60
Breaker ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
1543–1825 1638 75-80% 5 109.00–113.00 $109.85 $1,799 —
1720 1720 75-80% 1 116.00 $116.00 $1,995 —
1845 1845 75-80% 1 104.00 $104.00 $1,919 —

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Slaughter Bulls

YG1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1280–1690 1485 2 100.00–108.00 $103.45 $1,536 —
1400–2028 1646 6 107.00–115.00 $112.11 $1,845 —
1470–1930 1697 3 119.00 $119.00 $2,019 —

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Stock Cows

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
841–1220 915 Young (2-4 yrs)Open 61 111.00–175.10 $170.38 $1,559
932–1116 994 (<2 yrs)Open 47 170.00–182.00 $178.37 $1,773
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
843–852 848 (<2 yrs)Open 19 165.00–176.00 $173.33 $1,470
970 970 Young (2-4 yrs)Open 1 155.00 $155.00 $1,504

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Reading this report

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.