Miles City, Montana

Compared to last week (1-27-26): 500-699 lbs steers offered the best test this week selling mostly 5.00-10.00 higher in a narrow comparison. All other weights of steers were to lightly tested to develop a full market trend, however steady to firm undertones were noticed. Heifers were all too lightly tested last week to develop an accurate market trend, however steady to higher undertones were noticed. Demand for all feeders was good to very good on light to moderate offerings. Demand for light weight cattle suitable to develop into yearlings was mostly very good again this week. Quality this week was average to attractive. Some backgrounded offerings were pushing moderate plus to fleshy conditions this week. Most cattle were offered in smaller groups this week with no full load lots on offer. Heifer demand was very good as feeders and ranchers looking for replacements showed very good demand for heifers 600 lbs and heavier. CME positions continue their march higher, driven by tight supplies and a bullish cattle inventory report that showed continued heard contraction. CME positions added another day of triple digit higher movement as traders reflect on the estimated cow inventory of 86.2 million head, the smallest since 1951 and the smallest calf crop since 1941. Market activity was mostly active this week with a slightly smaller buyer pool noticed compared to last week. Weigh up cows sold on moderate to good demand for light offerings. Feeding demand continues to drive the cow market as buyers all showed good to very good demand for high quality cows to feed. Feeding cows sold mostly steady to 4.00 higher despite fewer feeding buyers in the stands. Cow quality this week was average to very attractive and overall more attractive compared to last week. Slaughter cows were too lightly tested to develop an accurate market trend, however steady undertones were noticed on all offerings. Slaughter bulls were too lightly tested last week to develop an accurate market trend, however steady to lower undertones were noticed. Young age cows were too lightly tested to develop an accurate market trend, however higher undertones were noticed. Quality this week was mostly average.

Receipts