Montana Livestock Markets Show Mixed Signals Week of May 10-16, 2026
Montana’s livestock markets delivered a complex picture this week, with total receipts climbing to 4,048 head—up 14.7% from last week but down 5.8% from the same period last year. The story behind the numbers reveals both opportunities and challenges as drought conditions continue to impact grazing decisions across Big Sky Country.
Market Highlights: Steady Undertones Despite Light Testing
Feeder cattle showed steady undertones this week, though last week’s light offerings made trend comparisons difficult. Quality ranged from plain to attractive, with good overall demand and moderate to active market activity supported by a larger buyer pool than recent weeks.
The drought factor looms large: While demand for grass cattle remains moderate to good, it has softened somewhat as drought conditions worsen across parts of Montana. This shift is affecting both current trading patterns and summer grazing plans for many operations.
Slaughter cow markets provided some welcome news, with breaking, boning, and lean cows selling $4.00-6.00 higher across all offerings. The biggest gains came from fleshy breaking cows, while slaughter bulls jumped $3.00-5.00 higher as packers seek lean meat to balance excess fat currently in the system.
Key Price Summary
| Category | Weight Range | Price Range ($/cwt) | Average Price |
|---|---|---|---|
| Feeder Steers (M&L 1) | 460-474 lbs | $561.00-587.50 | $572.95 |
| 654-698 lbs | $420.50-436.00 | $431.02 | |
| 821 lbs | $383.00 | $383.00 | |
| Feeder Heifers (M&L 1) | 427 lbs | $547.50 | $547.50 |
| 550-593 lbs | $424.00-448.00 | $429.69 | |
| 720-747 lbs | $355.00-370.00 | $359.98 | |
| Slaughter Cows – Boner | 1200-1605 lbs | $186.00-194.00 | $189.47 |
| Slaughter Cows – Lean | 1050-1270 lbs | $185.00-197.00 | $190.75 |
| Slaughter Bulls | 1760-2420 lbs | $223.00-246.00 | $232.43 |
| Replacement Heifers | 796 lbs | $3,050.00/head | $3,050.00 |
Canadian Demand Drives Feeding Cow Market
One of the week’s most notable trends was the strong Canadian presence in the feeding cow market. Canadian buyers purchased a large portion of the feeding cow offering, contributing to very good demand that pushed feeding cow prices $1.00-3.00 higher on breaking flesh cows.
Private feeders also maintained good demand, while American packers showed increased activity with strong demand for fleshy cows both for feeding and immediate harvest. However, most cows remain priced above packer breakeven levels for immediate slaughter.
Replacement Market Shows Caution
The replacement cattle sector told a story of drought-induced caution. While demand for young cows suitable for feeding or rebreeding remained mostly good, it wasn’t as strong as the previous week. Young cows sold $10.00-15.00 lower on a poorer quality offering, and pair demand has softened as ranchers express concern over drought conditions.
Quality was mostly plain to average, with limited attractive cattle available—a factor that’s becoming increasingly common as producers hold back their best animals in uncertain conditions.
Looking Ahead
CME futures provided mixed signals, with the May contract closing Friday at $368.675 (up $1.30), while August and September contracts finished lower at $361.45 (down $2.775) and $359.175 (down $3.00) respectively.
The week’s total receipts breakdown shows feeder cattle comprising 47.9% of offerings, slaughter cattle 23.7%, and replacement cattle 28.4%. Notably, 67% of feeder cattle weighed over 600 pounds, indicating good availability of heavier, more finished cattle.
As Montana producers navigate continued drought concerns and volatile futures markets, the steady undertones in feeder cattle and strength in slaughter cow markets provide some stability. However, the softening in grass cattle and replacement demand reflects the ongoing challenges facing the state’s ranching community.
Source: USDA AMS Montana Weekly Livestock Auction Summary
