The Morning Wire / Tue Nov 3, 2026

The Morning Wire

The trading day in one page — Tue, Nov 3
● Written from USDA reportsEvery figure as filed

Summary

Tue, Nov 3
Choice cutout held near $365.23. 49 barns across 22 states reported 2,822 priced lots.

Feeder steers

National, week of Nov 2 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.
WeightPricevs prior weekHeadBarns
300-399 lb547.36/cwt$9.04 higher1,03737
400-499 lb467.20/cwt$22.79 lower2,97641
500-599 lb408.07/cwt$27.78 lower4,65743
600-699 lb360.67/cwt$29.87 lower3,37142
700-799 lb341.37/cwt$12.99 lower1,74235
800-899 lb329.99/cwt$12.67 lower1,33319

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, Nov 3, weighted by head. Spread of $62.87 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.
BarnStateAverageHead
Winter Livestock - Riverton, WYWY446.22/cwt625
North Platte StockyardsNE445.93/cwt457
Philip Livestock AuctionSD440.25/cwt1,520
Miles City Livestock CommissionMT427.85/cwt148
GordonNE427.51/cwt395
Farmers and Ranchers Livestock Commission - KansasKS421.40/cwt158
Lolli Brothers Livestock MarketMO420.63/cwt67
Beaver Livestock AuctionOK417.17/cwt284
Springfield Livestock Auction - KentuckyKY415.98/cwt65
Ozarks Regional StockyardsMO411.77/cwt149
OKC West Livestock MarketOK410.88/cwt567
Toppenish Livestock CommissionWA407.88/cwt191
Interstate Regional StockyardsMO402.92/cwt81
Kingsville Livestock AuctionMO397.05/cwt178
Producers Livestock Marketing - Salina, UTUT391.94/cwt260
Lonestar StockyardsTX390.21/cwt137
Flemingsburg Livestock AuctionKY390.06/cwt42
Okeechobee Livestock Auction (Tue)FL385.78/cwt32
Arkansas Cattle Auction LLCAR384.45/cwt59
Lexington Livestock Auction - KentuckyKY383.35/cwt59

Boxed beef

PM close · Nov 3 USDA
Choice $365.23, $0.19 higher. Select $358.37, $3.43 higher. The Choice–Select spread stands at $6.86. 140 loads traded.

Fed cattle

Negotiated cash, week to date USDA
23,467 head traded Oct 28–Nov 3.
RegionBasisPriceHead
Iowa-MinnesotaDressed Delivered353.752,483
Iowa-MinnesotaDressed FOB355.00256
Iowa-MinnesotaLive Delivered224.2542
Iowa-MinnesotaLive FOB222.608,032
NebraskaDressed Delivered347.408,107
NebraskaDressed FOB352.571,130

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 400 to 500 Steady to 5.00 lower, 500 to 650 10.00 to 15.00 lower, Feeder Heifers 450 to 500 10.00 higher, 500 to 600 15.00 to 20.00 lower.

Philip Livestock Auction · South Dakota

Compared to last sale: Feeder steers and calves steady to 10.00 lower conservatively. Feeder steers in the 500 lb weight class, 20.00 higher on better quality. Feeder heifers 15.00-20.00 lower conservatively. Feeder heifers 600-700 lbs 5.00-10.00 higher on better quality.

Beaver Livestock Auction · Oklahoma

Compared to last Tuesday sale; feeder steers mostly steady with lower undertones noted with uneven margins of the market price range, feeder heifers steady to lower undertones with offering not as attractive as previous week.

Winter Livestock - Riverton, WY · Wyoming

Compared to last report, feeder cattle sold sharply lower. With breaker and boning slaughter cows selling steady, while lean cows sold 5.00 higher, with slaughter bulls selling steady to 2.00 lower. Trade was active, with a good demand, and a moderate to heavy supply.

Producers Livestock Marketing - Salina, UT · Utah

Compared to last week, steer calves under 750 lbs sold 10.00-20.00 lower following last weeks higher market and those over 750 lb's were too lightly tested last week for a trend but a lower undertone was noted. A few packages of some thinner/fancy type steers sold near steady.

Kingsville Livestock Auction · Missouri

Compared to two weeks ago, steers and heifers had a lower trend. Demand was moderate to good.

North Platte Stockyards · Nebraska

Compared to last sale (10-27-26): Feeder steer and heifer calves were all too lightly tested to develop an accurate market trend, however lower undertones were noticed on all offerings. Heavy rains fell across the state over the last few days.

Miles City Livestock Commission · Montana

Compared to last Tuesday stocker and feeder cattle steady to 13.00 lower. Feeder cattle futures were down $2.80 to $4.35 at the close. The CME Feeder Cattle Index was back down $1.68 on November 2 to $348.78. Trade active with good demand.

Toppenish Livestock Commission · Washington

Cows and bulls

National direct, dressed USDA
ClassPriceDirectionHead
Breaker (75% lean)239.17/cwt$7.89 lower653
Boner (85% lean)248.01/cwt$1.80 higher1,790
Cutter (90% lean)252.65/cwt$1.88 higher3,789
Premium White258.01/cwt$7.25 lower801
Bull (92% lean)303.38/cwt$0.79 lower441

Reports published

See every report →
84 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.