Cattle Market Pulse

Public Auction Yards Livestock Cattle Auction Market Report

Billings, Montana · USDA-reported Auction Livestock

Sale of Friday, February 27, 2026

4,034 head sold ·Official USDA report

light 6-weight M&L 1 heifers $438.59/cwt +103.59 vs last sale · ≈ $2,788/hd at 636 lb · 534 head
heavy 6-weight M&L 1 heifers $388.54/cwt ≈ $2,605/hd at 670 lb · 327 head
heavy 5-weight M&L 1-2 heifers $432.86/cwt ≈ $2,485/hd at 574 lb · 233 head

Receipts

HeadThis saleLast saleLast year
Total receipts 4,034 450 3,426
Feeder cattle 3,988 — 3,346
Slaughter cattle 36 — 35
Replacement cattle 10 — 45

Market comments — USDA reporter

The last feeder cattle special was held 2/18/26. All feeder cattle comparisons are to that sale. Feeder steers under 550 lbs sold generally steady in a narrow comparison. Steers 550-749 lbs sold steady to firm, steers over 750 lbs were too lightly tested last sale to develop an accurate market trend, however steady to lower undertones were noticed. Feeder heifers under 500 lbs were too lightly tested to develop an accurate market trend, however steady undertones were noticed. 500-599 lbs heifers sold steady to 10.00 higher, 600-649 lbs heifers sold 10.00-20.00 higher, heifers over 650 lbs were too lightly tested last sale to make an accurate market trend, however higher undertones were noticed. Demand was very good today for all offerings and strengthened throughout the sale. Demand for grass cattle was very good with several buyers looking for this class of cattle. Buyers looking for grass heifers dipped into the light end of replacement heifers in order to buy high quality cattle. This class of cattle showed the largest increase in value week over week. Quality today was average to very attractive with many sets of high quality cattle on offer. Cattle too big to go to grass were the soft part of the sale as lighter offerings made putting together loads of like quality cattle difficult. Additionally, CME positions sold off sharply today which put some pressure on this class of cattle. A large crowd was on hand for todays sale with active bidding seen from both order buyers and ranchers looking for grass cattle and replacement heifers. Weigh up cows sold on moderate demand for very light offerings. Too few cows were seen to develop a full market trend, however lower undertones were noticed. Slaughter bulls were too lightly tested to develop an accurate market trend, however steady undertones were noticed. Young age cows suitable to feed or rebreed were too lightly tested to develop any market trend.

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
411–424 416 15 620.00 $620.00 $2,579 —
453–484 474 66 559.00–615.00 $574.00 $2,721 —
509–548 541 224 511.00–550.00 $517.06 $2,797 —
550–584 574 154 485.00–517.00 $493.67 $2,834 +92.67
600–649 613 135 445.00–487.50 $465.17 $2,851 +80.33
662–690 672 197 413.50–434.00 $425.83 $2,862 +65.49
700–730 725 35 395.00–415.00 $402.49 $2,918 —
760–778 778 62 377.50–391.00 $377.79 $2,939 —
808–849 828 54 359.50–369.00 $363.41 $3,009 —
815–847 829 31 340.50–345.00 $342.92 $2,843 —
886 886 11 348.00 $348.00 $3,083 —
967 967 21 328.00 $328.00 $3,172 —
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
303–334 317 9 620.00–640.00 $629.37 $1,995 —
406–442 418 30 584.00–596.00 $589.20 $2,463 +114.20
495 495 2 552.50 $552.50 $2,735 +86.78
528–549 545 48 495.00–505.00 $500.31 $2,727 —
570–598 585 29 452.00–477.50 $468.80 $2,742 +79.80
621 621 4 438.00 $438.00 $2,720 +78.44
663 663 10 382.50 $382.50 $2,536 —
666 thin fleshed 666 8 430.00 $430.00 $2,864 —
657–673 672 35 402.50–422.00 $417.22 $2,804 —
710 710 5 375.00 $375.00 $2,662 —
710–745 732 26 370.50–390.00 $373.72 $2,736 —
795 795 64 360.50 $360.50 $2,866 —
886 886 10 336.00 $336.00 $2,977 —
898 898 2 344.00 $344.00 $3,089 —
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
510 510 2 547.50 $547.50 $2,792 —
626 626 4 435.00 $435.00 $2,723 —
708 708 24 395.00 $395.00 $2,797 —
775 775 3 375.00 $375.00 $2,906 —
914–937 926 24 333.00–338.00 $335.26 $3,105 —
Medium and Large 2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
380 380 3 565.00 $565.00 $2,147 —
400 400 2 525.00 $525.00 $2,100 —
585 585 1 415.00 $415.00 $2,428 —
673 673 3 367.50 $367.50 $2,473 —
Medium 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
590 590 6 473.00 $473.00 $2,791 —

↑ Back to top

Feeder Heifers

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
391 391 11 550.00–562.50 $556.82 $2,177 +89.61
425–428 427 18 532.50–542.00 $539.37 $2,303 —
463–499 475 150 492.50–531.00 $513.50 $2,439 —
503–542 532 91 460.00–487.00 $475.70 $2,531 —
560–597 574 180 442.50–467.00 $455.08 $2,612 +116.22
609–649 635 328 399.00–452.50 $439.27 $2,789 +104.27
635–645 637 206 410.00–446.00 $437.51 $2,787 +102.51
650–685 666 265 379.00–398.00 $387.64 $2,582 —
688–696 689 62 392.00–398.00 $392.39 $2,704 —
700–717 705 16 398.00–418.00 $404.35 $2,851 —
714–724 716 51 374.00–380.00 $378.69 $2,711 —
726–746 743 34 341.00–351.00 $349.56 $2,597 —
767–774 769 19 359.00–362.00 $359.79 $2,767 —
785 785 11 343.00 $343.00 $2,693 —
808–845 831 116 340.00–347.50 $342.78 $2,849 —
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
432 432 6 535.00 $535.00 $2,311 +100.00
470–495 485 4 490.00–495.00 $491.24 $2,383 +97.96
536–548 541 14 448.00–455.00 $451.96 $2,445 —
567–593 574 233 412.50–438.00 $432.86 $2,485 —
620–649 636 25 365.00–405.00 $389.57 $2,478 —
656–688 672 31 350.00–377.50 $373.52 $2,510 —
743 743 6 356.00 $356.00 $2,645 —
828 828 8 330.00 $330.00 $2,732 —
863 863 6 331.00 $331.00 $2,857 —
955 955 9 312.00 $312.00 $2,980 —
Medium and Large 1 ($/head)
Weight (lb) Avg wt Head Price range Avg $ Δ last sale
739 739 62 2,900.00 $2,900.00 —
751–752 752 179 3,050.00–3,075.00 $3,072.07 —
852 852 5 2,950.00 $2,950.00 —
939 939 39 2,975.00 $2,975.00 —
Medium 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
435 435 2 505.00 $505.00 $2,197 —
543–545 544 84 447.50–450.00 $448.96 $2,442 —
567 567 5 415.00 $415.00 $2,353 —
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
616 616 7 405.00 $405.00 $2,495 —
668–679 677 20 364.00–386.00 $382.75 $2,591 —
702 702 28 371.00 $371.00 $2,604 —
Medium and Large 2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
336 336 10 505.00 $505.00 $1,697 —
393 393 2 482.50 $482.50 $1,896 —
420–429 428 9 495.00–505.00 $503.91 $2,157 —
Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
630 630 8 375.00 $375.00 $2,362 —

↑ Back to top

Feeder Bulls

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
510 510 1 540.00 $540.00 $2,754 —
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
500 500 1 490.00 $490.00 $2,450 —

↑ Back to top

Slaughter Cows

Lean ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
855 855 85-90% 1 110.00 $110.00 $940 —
1140–1170 1156 85-90% 8 135.00–155.00 $140.79 $1,628 -17.44
1150–1240 1195 85-90% 2 122.00–130.00 $125.85 $1,504 -32.38
1185–1235 1210 85-90% 2 161.00 $161.00 $1,948 —
Boner ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
1280–1495 1346 80-85% 5 146.00–159.00 $150.17 $2,021 —
1391–1415 1400 80-85% 7 170.00–175.00 $171.58 $2,402 —
Breaker ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
1545 1545 75-80% 1 174.00 $174.00 $2,688 —
1755 1755 75-80% 1 167.00 $167.00 $2,931 —

↑ Back to top

Slaughter Bulls

YG1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1525 1525 1 170.00 $170.00 $2,592 —
1935 1935 2 198.00 $198.00 $3,831 —
2005 2005 1 186.00 $186.00 $3,729 —

↑ Back to top

Stock Cows

Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
980 980 (<2 yrs)Open 1 275.00 $275.00 $2,695
985–1140 1077 Young (2-4 yrs)Open 5 167.50–277.50 $210.55 $2,268
Medium and Large 1 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
905 905 (<2 yrs)Open 1 312.50 $312.50 $2,828
1258 1258 Young (2-4 yrs)Open 2 215.00 $215.00 $2,705

↑ Back to top

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.