The Morning Wire / Tue Oct 20, 2026

The Morning Wire

The trading day in one page — Tue, Oct 20

● Written from USDA reportsEvery figure as filed

← Oct 19Oct 20Oct 21 →

The market in a line

Tue, Oct 20

Choice cutout closed $1.72 higher at $373.30. 58 barns across 24 states reported 3,888 priced lots.

Feeder steers

National, week of Oct 19 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.

Weight	Price	vs prior week	Head	Barns
300-399 lb	544.49/cwt	$0.50 higher	5,174	160
400-499 lb	488.60/cwt	$0.23 higher	17,561	179
500-599 lb	439.27/cwt	$6.98 higher	33,329	183
600-699 lb	392.08/cwt	$7.03 higher	21,745	185
700-799 lb	350.70/cwt	$0.76 lower	9,212	154
800-899 lb	340.23/cwt	$3.06 higher	8,837	108

Barn by barn, 500–599 lb steers

Same day, same class USDA

Every barn that sold at least 20 head of this class on Tue, Oct 20, weighted by head. Spread of $94.56 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.

Barn	State	Average	Head
North Platte Stockyards	NE	469.16/cwt	561
Philip Livestock Auction	SD	463.50/cwt	1,551
Winter Livestock - Riverton, WY	WY	444.12/cwt	716
Miles City Livestock Commission	MT	432.19/cwt	910
Producers Livestock Marketing - Salina, UT	UT	424.06/cwt	385
OKC West Livestock Market	OK	422.49/cwt	371
Toppenish Livestock Commission	WA	421.82/cwt	143
Beaver Livestock Auction	OK	421.02/cwt	361
Knoxville Livestock Auction - Knoxville, TN	TN	411.48/cwt	49
Interstate Regional Stockyards	MO	410.11/cwt	44
Kingsville Livestock Auction	MO	406.75/cwt	98
Thomasville	GA	404.28/cwt	34
Ozarks Regional Stockyards	MO	402.78/cwt	191
Virginia Cattle Company	VA	401.31/cwt	51
SEMO Livestock Sales	MO	401.13/cwt	44
Springfield Livestock Auction - Kentucky	KY	400.80/cwt	71
Flemingsburg Livestock Auction	KY	384.05/cwt	35
Four State Stockyards	MO	376.92/cwt	112
Ledbetter Livestock Auction	KY	376.87/cwt	20
Lonestar Stockyards	TX	374.61/cwt	77

Boxed beef

PM close · Oct 20 USDA

Choice $373.30, $1.72 higher. Select $361.54, $1.63 higher. The Choice–Select spread stands at $11.76. 98 loads traded.

Fed cattle

Negotiated cash, week to date USDA

24,753 head traded Oct 10–Oct 16.

Region	Basis	Price	Head
Iowa-Minnesota	Dressed Delivered	353.40	3,231
Iowa-Minnesota	Dressed FOB	350.84	679
Iowa-Minnesota	Live Delivered	225.48	73
Iowa-Minnesota	Live FOB	223.03	5,858
Nebraska	Dressed Delivered	351.23	9,484
Nebraska	Dressed FOB	354.00	639

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 10.00-20.00 higher. Feeder heifers 2.00-8.00 higher. Feeder cattle lightly tested in most weight categories but demand very good. Cattle futures trading higher and cooler weather followed by a good rain has everyone in a more optimistic mood.
OKC West Livestock Market · Oklahoma

Compared to the last sale (10-13-26): Feeder steers weighing under 500 lbs sold 4.00 to 8.00 lower, while those weighing over 500 lbs sold 2.00 to 3.00 higher. Feeder heifers weighing under 500 lbs were too lightly tested to develop an accurate market trend, however higher undertones were noted.
Miles City Livestock Commission · Montana

Compared to last week, feeder steers and heifers were steady to 4.00 higher. Steer and heifer calves under 700 lbs. were 4.00-8.00 higher. Demand was good on a moderate supply. The largest draft of the day was 240 head of 922 lb. steers which sold for 324.00/cwt.
Ozarks Regional Stockyards · Missouri

Trade activity and demand was moderate. This is the first week of the split sales, therefore there is no accurate trend for yearlings. The breaker and boner slaughter cows of average dressing sold 2.00 lower while lean cows sold 3.00 lower. Slaughter bulls of average dressing sold 1.00 lower.
Winter - La Junta · Colorado

Compared to one week ago: Slaughter cattle 3.00 to 5.00 lower. Feeder cattle unevenly steady. Feeder and replacement cows' steady.
Townsend Livestock Market · Florida

Compared to a week ago: Slaughter cows and bulls steady, feeder steers and bulls steady, feeder heifers 7.00 higher, steer and bull calves unevenly steady, heifer calves 5.00 higher, replacements steady.
Southern Livestock · Georgia

Compared to last week: Feeder steers sold 3.00 to 6.00 higher. Feeder heifers sold steady to 2.00 higher. Slaughter cows sold 1.00 to 3.00 higher. Slaughter bulls sold steady.
Upton Livestock Auction · Kentucky

Compared to last week, steers and heifers sold steady to 5.00 higher with some steer calves under 550 lbs selling up to 10.00 higher. Supply and demand were moderate. Calves are starting to make up a higher percentage of the offering with just a few consignments of true grass yearlings offered.
Kingsville Livestock Auction · Missouri

Cows and bulls

National direct, dressed USDA

Class	Price	Direction	Head
Breaker (75% lean)	244.60/cwt	$8.63 lower	527
Boner (85% lean)	256.04/cwt	$1.41 lower	1,765
Cutter (90% lean)	259.28/cwt	$0.33 higher	3,630
Premium White	276.61/cwt	$7.86 higher	1,400
Bull (92% lean)	320.39/cwt	$0.63 higher	436

What published

See every report →

105 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.