Montana Livestock Market Report: April 19-25, 2026 – Feeder Cattle Show Steady Demand Despite CME Pressure
Montana’s livestock auction barns saw solid activity this week with 4,781 head moving through the rings, down slightly from last week’s 4,859 but trailing last year’s 5,160 head. The story this week was all about steady feeder cattle demand meeting limited supplies, while slaughter cows found strong support from feeding operations and Canadian buyers.
Market Highlights
Feeder cattle dominated the conversation this week, with grass-ready weights seeing particularly strong demand from both order buyers and local ranchers. While CME futures pressured the market early in the week — with April contracts closing 3.695 lower and May down 4.375 — strong local demand kept cash prices relatively stable.
“Cattle suitable to run on grass sold with the best demand,” according to market observers, as many backgrounded cattle that wintered well are now heading to summer pastures. Quality ranged from plain to attractive, with most cattle moving in small to moderate packages rather than the load lots we typically see later in the season.
The slaughter cow market told an interesting story this week. With major packers showing little interest at higher price levels, Canadian buyers and private feeders stepped up, pushing feeding cows steady to $2.00 higher on breaking and boning grades, while lean cows jumped $4.00-6.00 higher.
Key Price Summary
| Category | Weight Range | Price Range ($/cwt) | Notes |
|---|---|---|---|
| Feeder Steers M&L 1 | 600-650 lbs | $451.00-460.00 | Strong grass demand |
| 700-750 lbs | $394.00-418.00 | Good buyer interest | |
| 800-850 lbs | $360.00-372.00 | Steady undertones | |
| Feeder Heifers M&L 1 | 500-550 lbs | $464.50-480.00 | Active trading |
| 600-650 lbs | $385.00-416.00 | Steady to $10 lower | |
| 700-750 lbs | $350.00-369.00 | Moderate demand | |
| Slaughter Cows – Boner | 1200-1675 lbs | $173.00-192.00 | Strong feeding demand |
| Slaughter Cows – Lean | 1000-1285 lbs | $174.00-195.00 | $4-6 higher |
| Slaughter Bulls | 1565-2310 lbs | $200.00-240.00 | Steady, good demand |
| Stock Cows M&L 1 | 837-1300 lbs | $230.00-345.00 | Young cows in demand |
Market Breakdown by Sector
Feeder Cattle (26.0% of receipts): Limited supplies met good to very good demand, particularly for grass-ready weights. Two small feeder specials were held but were significantly smaller than previous weeks. The lack of load lots reflected the typical spring pattern as cattle move from backgrounding operations to grass.
Slaughter Cattle (10.5% of receipts): The feeding cow market stole the show with very good demand pushing prices higher. Young feeding cows were particularly sought after, with both replacement buyers and feeding operations competing for the same cattle.
Replacement Cattle (7.4% of receipts): Demand for young age cows suitable to feed or rebreed remained strong. Limited offerings of cows and heifers that lost calves are being marketed, but good weather conditions are keeping supplies tight.
Looking Ahead
With spring grass conditions looking favorable across much of Montana, demand for feeder cattle should remain solid in the coming weeks. The disconnect between futures markets and cash demand suggests local fundamentals are driving pricing more than outside influences.
Ranchers marketing backgrounded cattle should find receptive buyers, especially for cattle in the 600-800 pound range that are ready for grass. The strong feeding cow market also presents opportunities for those with cows that didn’t breed back or lost calves.
Market activity was mostly active with a large pool of buyers present both in person and online, suggesting continued liquidity in the weeks ahead.
Source: USDA AMS Montana Weekly Livestock Auction Summary
