Cattle Market Pulse

Public Auction Yards Livestock Cattle Auction Market Report, Billings, MT

Billings, Montana · USDA-reported Auction Livestock

Sale of Wednesday, September 23, 2026

842 head sold ·Official USDA report

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

heavy 7-weight M&L 1-2 heifers $317.68/cwt ≈ $2,510/hd at 790 lb · 24 head
heavy 8-weight M&L 1 heifers $311.35/cwt -6.15 vs last sale · ≈ $2,743/hd at 881 lb · 22 head
light 9-weight M&L 1 heifers $307.04/cwt -0.21 vs last sale · ≈ $2,883/hd at 939 lb · 14 head

Receipts

HeadThis saleLast saleLast year
Total receipts 842 1,169 1,021
Feeder cattle 233 610 385
Slaughter cattle 388 428 344
Replacement cattle 221 131 292

Market comments — USDA reporter

Compared to last sale (9-02-26): Feeder cattle were all too lightly tested to develop any market trend. Quality this week was mostly plain to average with most offerings seen in small packages or as singles. Demand was light to moderate as both quality and quantity limited demand. CME feeder cattle positions showed strong gains today following through on bullish news from Fridays cattle on feed report. Market activity was mostly moderate today with a small crowd of buyers on hand for todays sale. Weigh up cows sold on mostly light demand for light to moderate offerings. Canadian buyers showed moderate demand for cows to feed but were met with little resistance as American packers showed mostly light demand for all feeding cows. Feeding cows sold mostly 3.00-5.00 lower. Slaughter cows were also met with light demand as American packers showed very light demand for all slaughter cows. Slaughter cows sold 4.00-8.00 lower on breaking cows, boning and lean cows sold 6.00-10.00 lower. Slaughter bulls sold mostly steady to 5.00 lower. Young age cows suitable to feed or rebreed sold on light to moderate demand. Several sets of attractive offerings were seen this week, and many had freshy weaned calves. Demand was light to moderate and lighter than last week. Offerings were too lightly tested to develop an accurate market trend, however lower undertones were noticed.

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
375–383 unweaned 380 3 520.00–530.00 $523.29 $1,989 —
458 unweaned 458 4 462.50 $462.50 $2,118 —
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
554 unweaned 554 5 397.50 $397.50 $2,202 —

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Feeder Heifers

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
503 unweaned 503 3 392.00 $392.00 $1,972 —
560 unweaned 560 2 370.00 $370.00 $2,072 —
750 750 3 348.00 $348.00 $2,610 —
822 822 3 325.00 $325.00 $2,672 -11.99
875–895 881 22 310.00–312.00 $311.35 $2,743 -6.15
930–945 939 14 305.00–311.00 $307.04 $2,883 -0.21
973 973 2 298.00 $298.00 $2,900 -2.79
1000–1043 1006 14 296.00–298.00 $297.70 $2,995 —
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
466–495 unweaned 472 9 360.00 $360.00 $1,699 —
585 unweaned 585 2 327.50 $327.50 $1,916 —
758–794 790 24 316.00–330.00 $317.68 $2,510 —
853 853 2 302.00 $302.00 $2,576 —
943 943 2 296.00 $296.00 $2,791 +16.00
985 985 3 288.00 $288.00 $2,837 +17.43
1005–1015 1010 7 283.00–293.00 $288.50 $2,914 —
Medium 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
640 640 2 344.00 $344.00 $2,202 —
661 661 8 345.00 $345.00 $2,280 —
Large 1 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
473 unweaned 473 5 385.00 $385.00 $1,821 —

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Feeder Bulls

Large 1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1085–1095 1088 3 242.50–250.00 $245.02 $2,666 —
1130 1130 1 230.00 $230.00 $2,599 —

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Slaughter Cows

Boner ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
990 990 80-85% 1 130.00 $130.00 $1,287 —
1270–1515 1382 80-85% 7 120.00–127.00 $124.30 $1,718 -10.41
1355–1410 1390 80-85% 3 156.00–163.00 $158.61 $2,205 —
1305–1675 1391 80-85% 12 124.00–143.50 $137.39 $1,911 —
1315–1495 1397 80-85% 20 128.00–135.00 $130.87 $1,828 —
1260–1660 1417 80-85% 78 144.00–155.00 $149.60 $2,120 —
Lean ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
795 795 85-90% 1 80.00 $80.00 $636 —
895–950 922 85-90% 3 120.00–122.50 $120.83 $1,114 —
1130 1130 85-90% 1 140.00 $140.00 $1,582 -2.54
1045–1263 1170 85-90% 61 124.50–137.50 $128.99 $1,509 -20.00
1010–1365 1181 85-90% 29 100.00–124.00 $116.85 $1,380 -32.14
1080–1270 1199 85-90% 11 125.00–136.50 $129.47 $1,552 —
1185–1270 1230 85-90% 10 147.00–157.50 $150.44 $1,850 —
Breaker ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
1490–1545 1518 75-80% 2 149.00–150.00 $149.49 $2,269 -4.86
1550–1638 1582 75-80% 20 146.00–151.00 $148.45 $2,348 +5.74
1500–1755 1624 75-80% 11 132.00–143.00 $134.55 $2,185 —
1673 1673 75-80% 3 147.00 $147.00 $2,459 —
1698–1700 1699 75-80% 3 130.00–132.00 $130.67 $2,220 —

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Slaughter Bulls

YG1-2 ($/cwt)
Weight (lb) Avg wt Head Price range Avg $ ≈ $/hdΔ last sale
1210–1705 1490 12 153.00–173.00 $163.96 $2,443 —
1318–1935 1494 14 170.00–180.00 $174.93 $2,613 —
1410–2120 1729 11 152.00–166.00 $161.86 $2,799 —
1685–2310 1910 23 169.00–181.00 $174.41 $3,331 —
1885–2010 1955 4 183.00–185.00 $184.02 $3,598 +10.44

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Stock Cows

Medium and Large 1 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
829 thin fleshed 829 (<2 yrs)Open 7 272.50 $272.50 $2,259
824–1237 989 Young (2-4 yrs)Open 55 195.00–270.00 $245.60 $2,429
942–1245 1075 (<2 yrs)Open 43 200.00–267.50 $242.48 $2,607
1205 fancy 1205 (<2 yrs)Open 1 262.00 $262.00 $3,157
1170–1423 1339 Young/Middle Aged (2-8 yrs)Open 3 165.00–172.00 $169.96 $2,276
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
915 thin fleshed 915 (<2 yrs)Open 2 210.00 $210.00 $1,922
953–1255 1094 Young (2-4 yrs)Open 4 154.00–200.00 $178.76 $1,956
1255–1360 1283 Young/Middle Aged (2-8 yrs)Open 4 152.00–162.00 $158.33 $2,031
Large 1-2 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
1123 1123 Young (2-4 yrs)Open 5 166.00 $166.00 $1,864
Medium 1 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
789 789 (<2 yrs)Open 5 292.50 $292.50 $2,308

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Bred Cows

Medium and Large 1 ($/head)
Weight (lb) Avg wt AgeStage Head Price range Avg $
1242–1340 1278 Aged (>8 yrs)1st Stage (1-3 mo) 19 1,950.00–1,975.00 $1,956.90
Medium and Large 1-2 ($/head)
Weight (lb) Avg wt AgeStage Head Price range Avg $
1012–1152 1082 Young (2-4 yrs)1st Stage (1-3 mo) 6 2,825.00–2,850.00 $2,836.69
1298 1298 Middle Aged/Aged (>5 yrs)1st Stage (1-3 mo) 3 1,900.00 $1,900.00
1306 1306 Middle Aged (5-8 yrs)1st Stage (1-3 mo) 5 2,175.00 $2,175.00
Medium and Large 1 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
1400 1400 Aged (>8 yrs)1st Stage (1-3 mo) 6 141.50 $141.50 $1,981
Medium and Large 1-2 ($/cwt)
Weight (lb) Avg wt AgeStage Head Price range Avg $ ≈ $/hd
1367 1367 Aged (>8 yrs)1st Stage (1-3 mo) 3 133.00 $133.00 $1,818

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Bred Heifers

Medium 1-2 ($/head)
Weight (lb) Avg wt AgeStage Head Price range Avg $
664–740 702 Young (2-4 yrs)1st Stage (1-3 mo) 14 2,200.00–2,300.00 $2,252.71
Medium 1 ($/head)
Weight (lb) Avg wt AgeStage Head Price range Avg $
793–880 839 (<2 yrs)1st Stage (1-3 mo) 9 2,550.00–2,800.00 $2,660.99

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Dairy Cows

N/N/A ($/cwt)
Weight (lb) Avg wt Dressing Head Price range Avg $ ≈ $/hdΔ last sale
920 920 85-90% 1 100.00 $100.00 $920 —

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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.