The Morning Wire / Fri Sep 11, 2026

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The Morning Wire

The trading day in one page — Fri, Sep 11
● Written from USDA reportsEvery figure as filed
← Sep 10Sep 11Sep 12 →

The market in a line

Fri, Sep 11
Choice cutout closed $2.43 lower at $375.94. 16 barns across 11 states reported 669 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 Fri, Sep 11, weighted by head. Spread of $145.87 between the top and bottom of 7 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
CrawfordNE468.61/cwt650
Dunlap Livestock AuctionIA443.33/cwt59
Ft. Pierre Livestock AuctionSD431.00/cwt88
Eastern Missouri Commission CompanyMO425.83/cwt113
Siler City Livestock AuctionNC366.32/cwt29
Fauquier Livestock Exchange, Inc.VA360.27/cwt42
Cattlemen's Livestock Auction - Belen, NMNM322.74/cwt32

Boxed beef

PM close · Sep 11 USDA
Choice $375.94, $2.43 lower. Select $353.13, $1.07 higher. The Choice–Select spread stands at $22.81. 104 loads traded.

Fed cattle

Negotiated cash, week to date USDA
22,965 head traded Sep 5–Sep 11.
RegionBasisPriceHead
Iowa-MinnesotaDressed Delivered351.395,684
Iowa-MinnesotaDressed FOB349.78372
Iowa-MinnesotaLive Delivered219.02208
Iowa-MinnesotaLive FOB222.075,822
NebraskaDressed Delivered350.335,749
NebraskaDressed FOB350.00830

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 two weeks ago: feeder steers not well compared due to limited numbers. Feeder heifers from 850 lbs to 999 lbs were mostly steady to 2.00 lower, heifers from 1000 lbs to 1049 lbs were 10.00 to 15.00 lower. Good demand for todays offering of yearling steers and heifers.

Ft. Pierre Livestock Auction · South Dakota

A few lot loads of yearling heifers and yearling steers rest packages. The yearling heifers where preg check open or guaranteed open. Loads and packages of just weaned and a few weaned heifers and steers. Calves had preconditioned shots while some only had spring shots.

Crawford · Nebraska

Special Calf & Yearling Sale. Compared to the auction two weeks ago: steers 750 lbs sharply higher, 900 lbs sharply higher with load lots in the offering today and much lighter numbers in the previous sale. Too light a test for heifers this week, no comparison. Many unweaned calves today.

Dunlap Livestock Auction · Iowa

Compared to last week: Steer calves sold steady, while heifer calves sold 5.00-10.00 higher. Feeder steers and heifers sold 3.00-8.00 higher. Slaughter cows and bulls sold steady. Trade and demand good.

Cattlemen's Livestock Auction - Belen, NM · New Mexico

Compared to last week; slaughter and feeder cows traded mostly steady to weak at times. Slaughter bulls traded 2.00 lower. A nice offering today with the majority of the bidding coming from the seats and the majority of the cows returning to the country. Sale again next Friday.

Torrington Livestock Commission Company · Wyoming

Compared to the last special two weeks ago, the best test on steer calves were weighing 500-600 lbs selling 10.00-20.00 higher, spots 25.00 higher on the 550-600 lb steers and a light test of 600-650 lb steers sold mostly 10.00-15.00 higher all other weights of feeder steers sold with a higher under…

Eastern Missouri Commission Company · Missouri

Slaughter cattle were steady this week compared to last week . Feeder cattle were 4.00 to 6.00 higher this week compared to last week . Demand was moderate ; market activity and buyer interest were moderate . Offerings moderate with quality average .

Siler City Livestock Auction · North Carolina

No trends due to limited supply last week, however the heavy weight yearlings traded better with more interest and higher prices.

Richmond Livestock Auction · Kentucky

Cows and bulls

National direct, dressed USDA
ClassPriceDirectionHead
Breaker (75% lean)275.34/cwt$7.75 lower395
Boner (85% lean)284.56/cwt$6.14 lower2,189
Cutter (90% lean)288.43/cwt$6.61 lower3,819
Premium White310.62/cwt$6.73 higher1,431
Bull (92% lean)338.55/cwt$2.26 higher514

What published

See every report →
48 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.