The Morning Wire / Wed Jul 22, 2026

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The Morning Wire

The trading day in one page — Wed, Jul 22
● Written from USDA reportsEvery figure as filed
← Jul 21Jul 22Jul 23 →

The market in a line

Wed, Jul 22
Choice cutout closed $3.41 lower at $363.50. 45 barns across 20 states reported 2,567 priced lots.

Feeder steers

National, week of Jul 20 USDA
Weighted across every reported lot, by weight class. Weekly rather than daily — one day's barns are too thin a base for a national figure.
WeightPricevs prior weekHeadBarns
300-399 lb543.08/cwt$18.91 lower2,328131
400-499 lb463.47/cwt$17.04 lower3,592140
500-599 lb419.04/cwt$20.11 lower5,313142
600-699 lb387.86/cwt$17.68 lower5,125141
700-799 lb356.46/cwt$14.01 lower4,058118
800-899 lb343.83/cwt$7.46 lower5,68574

Barn by barn, 500–599 lb steers

Same day, same class USDA
Every barn that sold at least 20 head of this class on Wed, Jul 22, weighted by head. Spread of $96.83 between the top and bottom of 12 barns. An average moves with the cattle that showed up as much as with the buyers in the seats — a yard with better grade will average higher on the same demand. This is where the money landed, not a verdict on the barn.
BarnStateAverageHead
BassettNE471.06/cwt91
Farmington Regional StockyardsMO446.74/cwt35
Clovis Livestock AuctionNM430.35/cwt94
Albany Livestock AuctionKY429.71/cwt21
Mount Sterling Livestock AuctionKY425.46/cwt74
South Central Regional StockyardsMO424.42/cwt88
Southern Oklahoma Livestock AuctionOK416.63/cwt57
AshburnGA406.34/cwt98
Campbellsville Livestock AuctionKY404.91/cwt26
Roanoke StockyardsAL402.78/cwt20
Arcadia Stockyard (Wed)FL395.64/cwt67
Savannah Livestock AuctionTN374.23/cwt23

Boxed beef

PM close · Jul 22 USDA
Choice $363.50, $3.41 lower. Select $350.57, $3.66 lower. The Choice–Select spread stands at $12.93. 116 loads traded.

Fed cattle

Negotiated cash, week to date USDA
18,086 head traded Jul 16–Jul 22.
RegionBasisPriceHead
Iowa-MinnesotaDressed Delivered370.252,509
Iowa-MinnesotaDressed FOB372.0040
Iowa-MinnesotaLive Delivered239.16276
Iowa-MinnesotaLive FOB233.735,790
KansasDressed FOB372.0072
KansasLive Delivered235.00213

At the barns

USDA market reporters, as filed USDA
One barn per state, largest first — more states file than fit here. Your own state is linked below.

Compared to the report from two weeks ago, the Bassett Livestock Auction saw limited heifer offerings, with 750 lb heifers trading 15.00 lower. Steers weighing 750 to 1050 lbs also saw significant downward pressure, trading 25.00 lower.

Bassett · Nebraska

Compared to last week. Steers and Heifers 25.00 to 40.00 lower with a very uneven trade on most classes with extreme heat in the area. Quality was plain to average with a moderate demand.

Southern Oklahoma Livestock Auction · Oklahoma

Compared to one week ago: Feeder cattle sold sharply lower. Slaughter cows sold steady to 1.00 higher, slaughter bulls sold steady to 1.00 lower. Replacement cows and pairs sold mostly steady.

Roanoke Stockyards · Alabama

*Winter Livestock Hall of Fame Special Sale, Saturday, July 25, 2026, estimated 5500 head* Compared to last week, not enough for market test on feeder steers and heifers nor stocker calves. Boning utility slaughter cows sold steady, weak undertone and Lean utility slaughter cows sold 12.00 lower.

Winter Livestock - Dodge City · Kansas

Based on limited comparisons with the last reported sale two weeks ago, feeder steers and heifers 15.00-35.00 lower. Few slaughter cows near steady. Demand moderate to good. Supply light. The cattle market has been losing ground in big chunks since the last sale.

South Central Regional Stockyards · Missouri

Compared to one week ago, slaughter cows and bulls mostly steady, feeder steers lightly tested, feeder bulls and heifers 5.00 to 7.00 lower, all replacements mostly steady.

Athens · Georgia

Slaughter Cattle 4.00 To 10.00 Lower Feeder Cattle 5.00 To 15.00 Lower Demand Good Activity Active Offerings Light Quality Average To Attractive Head Calves 1000.00

North Wilkesboro Livestock Auction · North Carolina

No trends could be established due to a lack of comparable receipts. However their was a higher undertone on Slaughter Cows and Bulls.

Trenton Regional Stockyards - Trenton, TN · Tennessee

Cows and bulls

National direct, dressed USDA
ClassPriceDirectionHead
Breaker (75% lean)314.90/cwt$2.60 lower567
Boner (85% lean)330.30/cwt$3.12 lower1,011
Cutter (90% lean)332.94/cwt$0.55 lower2,023
Premium White328.47/cwt$1.04 higher1,581
Bull (92% lean)372.36/cwt$1.14 lower185

What published

See every report →
85 USDA reports carried this date — sale barns, state summaries, video and board sales, grain, hay and the national desks.
Source: USDA AMS. Every figure is USDA's as filed, and the direction words — higher, lower, steady— follow the arithmetic rather than an opinion. Quoted comment is the work of USDA market reporters, credited to the sale it came from. This is RaisedBeef's rendering of USDA data, not a copy of USDA's document and not endorsed by USDA.