How to Read a Livestock Market Report
If you're new to reading market reports, you can use this quick guide to define some key terms you'll see in cattle market reports.
A livestock market report gives you a look at how the local market is performing. Experts use these reports to provide commentary on the future of the market and suggest where trends are headed. Ranchers can also glean valuable information to make management decisions — if you know what you’re looking for. Keep in mind, terms may vary slightly by region.
Animal Types
- Steer: Castrated male
- Bull: Intact male
- Heifer: Young female that has not calved yet
- Bred Heifer: Heifer confirmed pregnant (has not calved yet)
- Cow: Female that has calved at least once
- Cull Cow: Cow sold to slaughter (no longer productive)
Weights and Volumes
- Cutweight (CWT): Price per 100 lbs of live weight
- Average Weight: Typical weight of cattle sold
- Receipts: Total head sold at that auction
Muscle and Finish
- Muscle Score (1-3)
- 1 (premium): heavy muscled
- 2 (somewhere in the middle): average
- 3 (discount): light muscled
- 1/2 or 2/3 (in between grades but either toward 1 or 3)
- Condition Terms
- Fancy (typically higher price): animals that are typically highly desirable with very low risk; they cost slightly more but come with fewer potential problems
- Plain (average to below-average quality): animals that might have some color patches, are in slightly below-average condition or have scurs, tipped horns or something else that makes them slightly imperfect
- Fleshy (usually discounted slightly): overfat
- Thin-fleshed (often desirable because you can put gain on quickly!): animals that are lean but healthy
- Gaunt (usually discounted slightly): animals that are very thin or rough
Carcass and Yield
- Yield Grade (1-5): 1 = best meat-to-bone ratio; 5 = poorest
- Dressing %: (Carcass weight ÷ Live weight) x 100
When you’re new to a region and looking to find the best place to buy and sell your livestock, here are a few good tips from experienced ranchers. Remember, sale barns dictate prices in the market, even if you don’t sell there.
- Browse Around: Don’t just look at the sale barn closest to your ranch — find three to four in the area through an online search or by asking neighboring ranchers. Browse website information, download market reports and use this guide to help you compare options.
- Get to Know Your Sale Barn: The first time you step into the sale barn shouldn’t be to sell your own livestock. Go ahead of time to see a sale. Watch the auctioneer and ask yourself, are you happy with how the auctioneer is selling livestock? Is he positive? Is there engagement? Are there enough buyers in the room? Check out the back pens, where waiting animals are held and cared for until their sale. Confirm the animals receive care you are comfortable with for your livestock.
- Confirm Details: When you’re at the barn, ask about their commission fee, yardage fees, and special sales days or dates.
- Commission Fee – This is the fee you pay the sale barn to sell your livestock, either by head or a percentage of the total sale.
- Yardage – Often you can’t take livestock to the barn on the day of the sale. So, there is a fee for the barn to care for the animals until the sale date and time. Always confirm they provide what they are charging you for.
- Special Sales – Some barns will host buyers for specific sales, including registered cattle, females, production, horned cattle or specialty animals (bison, small ruminants, chickens).
