The Morning Wire / Thu Sep 10, 2026

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The Morning Wire

The trading day in one page — Thu, Sep 10
● Written from USDA reportsEvery figure as filed
← Sep 9Sep 10Sep 11 →

The market in a line

Thu, Sep 10
Choice cutout closed $2.40 lower at $378.37. 30 barns across 18 states reported 1,657 priced lots.

Feeder steers

National, week of Sep 7 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 lb484.42/cwt$6.15 higher2,279118
400-499 lb440.68/cwt$23.93 higher4,797130
500-599 lb390.59/cwt$19.20 higher6,067134
600-699 lb352.68/cwt$5.49 higher4,750129
700-799 lb339.69/cwt$8.28 higher4,396115
800-899 lb345.14/cwt$20.98 higher6,20079

Barn by barn, 500–599 lb steers

Same day, same class USDA
Every barn that sold at least 20 head of this class on Thu, Sep 10, weighted by head. Spread of $76.89 between the top and bottom of 20 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
Winter Livestock - PrattKS426.99/cwt42
Clarinda Livestock AuctionIA416.28/cwt82
Paris Livestock AuctionKY414.47/cwt89
Guthrie Livestock AuctionKY414.16/cwt97
Farmers and Ranchers Livestock Commission - KansasKS410.00/cwt63
Wheeler Livestock AuctionMO409.27/cwt66
Billings Livestock CommissionMT403.08/cwt132
Woodward Livestock IncOK396.62/cwt21
Cedar Livestock AuctionUT384.43/cwt26
Stanford Livestock AuctionKY384.10/cwt25
Toppenish Livestock CommissionWA379.52/cwt21
Mid Missouri StockyardsMO379.17/cwt42
Glasgow Livestock AuctionKY373.30/cwt38
AthensGA370.38/cwt78
Rockingham Livestock Sales, Inc.VA370.28/cwt52
Tulia Livestock AuctionTX367.78/cwt71
Apache Livestock AuctionOK364.53/cwt112
Greenville Livestock Auction - Greenville, TNTN363.11/cwt22
I-40 Livestock AuctionAR362.25/cwt58
Producers Livestock Auction Co - San AngeloTX350.10/cwt29

Boxed beef

PM close · Sep 10 USDA
Choice $378.37, $2.40 lower. Select $352.06, $0.28 lower. The Choice–Select spread stands at $26.31. 114 loads traded.

Fed cattle

Negotiated cash, week to date USDA
4,425 head traded Sep 4–Sep 10.
RegionBasisPriceHead
Iowa-MinnesotaDressed Delivered351.31325
Iowa-MinnesotaDressed FOB343.00960
Iowa-MinnesotaLive FOB219.142,014
NebraskaDressed Delivered343.00180
NebraskaLive FOB220.94946

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 last week, feeder steers over 800 lbs sold 15.00 to 20.00 higher with steers weighing 700 to 780 lbs selling steady to 2.00 higher. Heifers over 700 lbs sold 7.00 to 15.00 higher. Steers and heifers under 700 lbs not enough for market test. Good demand for a moderate supply.

Farmers and Ranchers Livestock Commission - Kansas · Kansas

Compared to last sale (9-03-26): Feeder steers and heifer calves were too lightly tested last week to develop an accurate market trend, however higher undertones were noticed. Yearling steers were too lightly tested to develop any market trend.

Billings Livestock Commission · Montana

Compared to last Thursday, stocker and feeder cattle steady in a light test. Feeder cattle futures closed Thursday with gains of $1.25 to $2.87 on the session. The CME Feeder Cattle Index was back up $1.53 on September 9 to $328.96. Slaughter cows 2.00-8.00 lower.

Toppenish Livestock Commission · Washington

Compared to last week, feeder cattle overall sold 1.00 to 4.00 lower. Slaughter cows and bulls sold on a light test, however a lower undertone was noted.

Producers Livestock Auction Co - San Angelo · Texas

Compared to last week: Feeder steers under 500 lbs sold 30.00-40.00 lower, over 500 lbs sold 3.00-6.00 higher. Feeder heifers under 500 lbs sold 18.00-35.00 lower, 500-600 lbs sold steady, over 600 lbs sold 10.00 lower. No trend for Slaughter cows or bulls, not reported last week.

I-40 Livestock Auction · Arkansas

Compared to last week, slaughter cattle were mostly steady. Feeder cattle were sharply higher. Demand was moderate; market activity and buyer interest were moderate. Offerings of cattle were moderate. Cattle quality was average.

Smithfield Livestock Auction · North Carolina

Compared to last week's sale slaughter cows sold 4.00 to 7.00 lower. Holstein bull calves sold 20.00 to 40.00 higher. Beef cross bull calves sold 40.00 to 50.00 higher.

Empire - Bath · New York

Compared to last week. Slaughter Cows and Bulls 5.00 to 10.00 lower with light test. Fair demand for replacements.

Southern Oklahoma Livestock Auction · Oklahoma

Cows and bulls

National direct, dressed USDA
ClassPriceDirectionHead
Breaker (75% lean)283.09/cwt$9.17 lower714
Boner (85% lean)290.70/cwt$6.05 lower2,078
Cutter (90% lean)295.04/cwt$2.77 lower3,930
Premium White303.89/cwt$5.36 lower1,768
Bull (92% lean)336.29/cwt$1.53 lower546

What published

See every report →
67 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.