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TUESDAY Q’S
MARKET REPORT
WEATHER 20/20 REPORT
AGRICULTURE
REGENERATIVE AGRICULTURE: PROMISE OR HYPE?
NATIONAL FFA WEEK CELEBRATED
USDA RFI SIGNALS DATA SHIFT
FINANCE
DAILY REPORTING
CATTLE FIRM, HOGS FACE HEADWINDS
BRAZIL GAINS EDGE IN SOYBEANS
SUPREME COURT SPARKS TRADE TURMOIL
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When it comes to herd management this winter, you’re mostly…
Last Week’s Responses— 2/17



Monday, February 23
AUCTION SUMMARY
Ft. Pierre Livestock
5,987 Ft. Pierre, SD
Friday
| Feeder Steers - Medium & Large #1 | Feeder Heifers - Medium & Large #1 | ||
| 500-600 lbs | 485.00-550.00 | 400-500 lbs | 490.00 |
| 600-700 lbs | 420.00-488.00 | 500-600 lbs | 422.00-481.00 |
| 700-800 lbs | 380.00-437.00 | 600-700 lbs | 377.50-440.00 |
| 800-900 lbs | 384.50-399.00 | 700-800 lbs | 342.00-394.00 |
| 900-1000 lbs | 346.00-352.50 | 800-900 lbs | 295.00-327.50 |
Ericson Livestock
4,340 Ericson, NE
Saturday
| Feeder Steers - Medium & Large #1 | Feeder Heifers - Medium & Large #1 | ||
| 500-600 lbs | 480.00-537.50 | 500-600 lbs | 443.00-505.00 |
| 600-700 lbs | 440.00-472.50 | 600-700 lbs | 390.00-425.00 |
| 700-800 lbs | 382.50-437.50 | 700-800 lbs | 353.00-391.00 |
| 800-900 lbs | 359.00-389.00 | 800-900 lbs | 329.00 |
| 900-1000 lbs | 343.50-360.50 | 900-1000 lbs | 309.00-309.25 |
Herreid Livestock
1,906 Herreid, SD
Friday
| Feeder Steers - Medium & Large #1 | Feeder Heifers - Medium & Large #1 | ||
| 400-500 lbs | 536.00-607.00 | 300-400 lbs | 560.00-595.00 |
| 500-600 lbs | 480.00-528.00 | 400-500 lbs | 520.00-540.00 |
| 600-700 lbs | 411.00-467.50 | 500-600 lbs | 425.00-479.00 |
| 700-800 lbs | 387.00-411.00 | 600-700 lbs | 406.00-430.00 |
| 800-900 lbs | 377.75-389.00 | 700-800 lbs | 361.50-376.00 |
CHICAGO MERCANTILE EXCHANGE LIVESTOCK FUTURES SETTLEMENT
Monday
| Live Cattle | Change | Feeder Cattle | Change | ||
| Feb | 244.975 | 1.600 ▼ | Mar | 364.300 | 3.725 ▼ |
| Apr | 239.250 | 2.750 ▼ | Apr | 361.350 | 3.700 ▼ |
| Jun | 235.450 | 2.075 ▼ | May | 357.975 | 3.025 ▼ |
CHICAGO BOARD OF TRADE GRAIN FUTURES SETTLEMENTS
Monday
| Corn | Change | Soy Beans | Change | ||
| Mar | 4.2750 | unchanged | Mar | 11.3425 | 0.0325 ▼ |
| May | 4.4025 | 0.0050 ▲ | May | 11.4975 | 0.0350 ▼ |
| Jul | 4.4875 | 0.0050 ▲ | Jul | 11.6350 | 0.0250 ▼ |
KANSAS CITY BOARD OF TRADE
Monday
| Wheat | Change | ||||
| Mar | 5.6000 | 0.1225 ▼ | |||
| May | 5.7225 | 0.1300 ▼ | |||
| Jul | 5.8500 | 0.1200 ▼ | |||
ESTIMATED DAILY CATTLE SLAUGHTER
| Monday | 106,000 | Friday |
| Week Ago (est) | 87,000 | Steer & Heifer: 68,000 |
| Year Ago (act) | 97,000 | Cow & Bull: 21,000 |
| Wk To Date (est) | 106,000 | Saturday |
| Last Week (est) | 87,000 | Steer & Heifer: 0 |
| Last Year (est) | 97,000 | Cow & Bull: 0 |

Monday, February 23
5 AREA WEEKLY ACCUMULATED WEIGHTED AVG CATTLE PRICE
| As of 10:00 am | Head Count | Avg Weight | Avg Price |
| Live Steer | 24,278 | 1,572 | 246.91 |
| Live Heifer | 7,809 | 1,410 | 247.37 |
| Dressed Steer | 12,540 | 1,021 | 387.95 |
| Dressed Heifer | 2,974 | 908 | 387.98 |
DAILY ESTIMATED CUTOUT VALUES
| 600-900# | Choice | Select | Choice/Select Spread |
| Current Cutout Values: | 369.22 | 364.31 | 4.91 |
| Change from prior day: | +2.52 ▲ | +3.57 ▲ |
DAILY CATTLE SLAUGHTER
| Monday | 106,000 | Friday |
| Week Ago (est) | 87,000 | Steer & Heifer: 68,000 |
| Year Ago (act) | 96,630 | Cow & Bull: 21,000 |
| Wk To Date (est) | 106,000 | Saturday |
| Last Week (est) | 87,000 | Steer & Heifer: 0 |
| Last Year (est) | 96,630 | Cow & Bull: 0 |
Cattle markets continue their historic climb with seven-dollar calves, feeder cattle pushing new highs, and fed cattle trading near $2.50. Demand remains strong and buying depth continues to surprise producers across the Plains.
But this week’s market strength is overshadowed by devastating wildfires across southwest Kansas and the Oklahoma Panhandle. With over 200,000 acres burned, ranchers are facing destroyed grass, fences, infrastructure, and smoke-damaged cattle. The rebuilding effort will take months and community support will be critical.
This episode covers the market update, regional highlights, and how listeners can support fire relief efforts through trusted cattle industry organizations.
Takeaways:
Calf and feeder markets remain extremely strong across the region
Seven-dollar three-weight steers reported in Colorado
Eight-weight steers trading north of $360
Spring calving cows selling above $4,000 in select packages
Fed cattle reported as high as $250 in some areas
Regional demand remains aggressive despite lighter receipts
Over 200,000 acres burned in Kansas and Oklahoma wildfires
Smoke damage, fence loss, and long-term grass loss create ongoing challenges
100 percent of relief funds through state cattle associations go directly to impacted ranchers
Donations, hay, fencing supplies, fuel, and trucking support are all needed
Donation Information:
Kansas
KLA Office - (785) 273-5115
Oklahoma
OCF Office - 405-435-4391
OCF Fire Relief Fund: https://www.okcattlemen.org/
If you would like to donate to this relief effort, you can do so by mail or online. OCF is a 501c(3) charitable arm of the Oklahoma Cattlemen’s Association (OCA).
Make checks payable to: Oklahoma Cattlemen’s Foundation | Memo: “Fire Relief”
Mail to: P.O. Box 82395, Oklahoma City, OK 73148.
Donation Centers: https://extension.okstate.edu/programs/emergency-and-disaster-preparedness/wildfire/donation-centers-for-wildfire-relief.html
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Monday, February 23
CattleUSA Insurance Partner Logic Ag Marketing Commentary

Managed money, as of last Tuesday, started adding to cattle longs again, while liquidating some of their hog longs. As I've said, this report is delayed, so they could've changed their intentions since last Tuesday. The sad reality is Live Cattle haven't done much with the renewed interest from Managed Money. And given our move since last Tuesday, I'm slightly disappointed cash didn't give MM more reasons to add longs. We feel a little tired up here, and we can't blame the Funds for it. The entire grain complex has been getting a lift from managed money flipping out of their shorts. It's wild how bullish they've become in the bean and bean product spaces, something I don't see lasting forever. It's crazy how they've flipped out of meal shorts and meal remains stuck down near $310, telling me there's plenty of physical meal suppressing the price. Corn is very similar, as managed money was net short closer to 90k contracts a month ago, and we've gone mostly sideways as they've liquidated. That means the selling of physical has kept prices from "popping." Watching basis and spreads, I don't see a huge reason to hedge feed needs just yet. I'm riding the spot feed markets and going to use any pop we get as a way to hedge 2026 grain production.
-Fat cattle kill at 106,000 vs 87,000 a week ago and 96,000 a year ago
-Choice boxes up 2.52 to $369.22 and select up 3.57 to $364.31 for a spread of 4.91 on 75 loads
-CME feeder index(Feeder LRP Settlement) for 2/20 came in at $375.80
-Fed Cattle LRP’s ending last week settled at $246.62
-Hog kill at 489,000 vs 461,000 a week ago and 488,000 a year ago.
-Afternoon Pork reported up 1.79 at $97.40 on 239 loads
-CME lean hog index on 2/19 reported at 87.95
-CME pork cutout index on 2/20 reported at 96.07
-LRP’s ending 2/23 settled at approximately $88.16
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SOUTH AMERICA RAINFALL FORECAST: FEBRUARY 23-MARCH 10
BRAZIL: Minas Gerais/Bahia to MG will see 3”-6”… Upgrade account to read the rest.

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