Montana’s livestock auctions saw total receipts of 3,670 head during the week of May 24-30, down significantly from the previous week’s 7,698 head but below last year’s comparable week of 4,139 head. Drought conditions continue to impact ranching operations across the state, with several notable market trends emerging this week.
Market Highlights
Replacement cattle dominated this week’s sales at 37.7% of total receipts (1,385 head), reflecting ongoing drought pressures as ranchers make difficult decisions about herd management. Quality was notably mixed, ranging from plain to very attractive, with several larger consignments of high-quality replacement heifers hitting the market.
Key Market Movements:
- Feeder cattle demand remained good to very good with better quality offerings
- Slaughter cows sold fully steady across all classes
- Young feeding cows dropped $12.00-15.00 with fewer buyers present
- CME futures showed continued weakness, with August contracts closing at $348.425, down $1.425
Weekly Price Summary
| Category | Weight Range | Price Range ($/cwt) | Notes |
|---|---|---|---|
| Feeder Steers (M&L 1) | 360-410 lbs | $585.00-615.00 | Unweaned |
| 650-680 lbs | $419.00-437.50 | ||
| 800-840 lbs | $360.00-367.00 | ||
| Feeder Heifers (M&L 1) | 485-550 lbs | $402.50-470.00 | Some unweaned |
| 620-640 lbs | $401.00-423.00 | ||
| 760-787 lbs | $360.00-368.00 | ||
| Slaughter Cows (Breaker) | 1,385-1,990 lbs | $169.50-187.00 | Average dressing |
| Slaughter Cows (Boner) | 1,225-1,575 lbs | $174.00-189.00 | Average dressing |
| Slaughter Bulls | 1,540-2,280 lbs | $208.00-225.00 | Average dressing |
| Stock Cows (M&L 1) | 825-1,450 lbs | $201.00-331.00 | Under 2 years, open |
Drought Impact Continues
The ongoing drought situation is clearly reflected in this week’s numbers, with replacement cattle making up more than a third of total sales. Ranchers are being forced to make tough decisions about carrying capacity, leading to increased offerings of quality replacement heifers and cow-calf pairs.
Demand for cow-calf pairs remains light to moderate despite the heavy supplies, as buyers are cautious about taking on additional cattle given current range conditions. However, Canadian buyers showed increased activity this week, particularly for thinner-fleshed cattle suitable for feeding operations.
Looking Ahead
Market activity was moderate to active with a larger buyer pool noticed this week, though fewer buyers were present for young cow categories. Ranchers are facing calendar pressures as breeding season approaches, with most cows needing to be worked and turned out with bulls soon to maintain spring calving schedules.
The futures market continues to reflect concerns about higher feedlot inventories, putting pressure on cash markets. However, good demand for quality feeder cattle and steady slaughter cow prices provide some stability in challenging conditions.
Total Weekly Receipts Breakdown:
- Feeder Cattle: 965 head (26.3%)
- Slaughter Cattle: 1,320 head (36.0%)
- Replacement Cattle: 1,385 head (37.7%)
As we head into summer, monitoring moisture conditions and range grass development will be crucial for market direction. Ranchers should continue to evaluate carrying capacity and market opportunities carefully as drought conditions persist across much of Montana.
Source: USDA AMS Montana Weekly Livestock Auction Summary