Bottom Line
Feeder cattle are entering September off their early-August highs, with recent weakness showing up both nationally and in the central High Plains. September feeder cattle futures fell nearly $28/cwt from their August 5 high through the end of the month, while Monday's national steer prices were lower than the previous Monday across every reported weight class.
The important context for cattlemen: the market has softened, but cattle are still bringing historically substantial dollars. Exceptional groups continue to command premium prices, and the recent decline should be viewed as a retreat from very high levels rather than evidence of a cheap cattle market.
What Happened
September feeder cattle futures climbed to $348.375/cwt on August 5 before retreating to $320.90 on August 28, a decline of $27.475 from the early-month high. The contract recovered slightly Monday to close at $321.45.
Cash markets showed similar late-August weakness. National Beef Wire reported Monday's national steer prices lower than the previous Monday across every weight class it tracked:
- 500–599 lbs.: $402.00, down $5.19
- 600–699 lbs.: $371.82, down $1.08
- 700–799 lbs.: $335.89, down $7.77
- 800–899 lbs.: $325.47, down $2.96
- 900–999 lbs.: $307.31, down $3.21
- 1,000–1,099 lbs.: $289.09, down $4.43
The largest decline was among 700-weight steers.
High Plains Markets Showed Weakness Too
The softer trade was also evident closer to Dey Money's home territory.
Winter Livestock's August 25 sale at La Junta, Colorado, moved 1,292 head and reported:
- Lightweight steers $10–$15 lower
- Heavy steer calves $6–$10 lower
- Stocker steers $12–$16 lower
- Feeding steers $10–$14 lower
- Lightweight heifers $15–$30 lower
- Stocker heifers $20–$30 lower
That followed a more mixed August 19 sale at Winter Livestock in Dodge City, Kansas, where feeder steers and heifers were described as steady to a few dollars softer while calves were $10–$20 higher.
The two sales aren't directly comparable—they involved different cattle in different locations—but the La Junta results add regional evidence to the broader late-August pullback.
Strong Cattle Can Still Bring Strong Money
A softer overall market hasn't eliminated premiums for desirable cattle.
Faith Livestock Auction in South Dakota reportedly sold 100 steers averaging 464 lbs. at $545/cwt Monday, while Russell Livestock Market in Iowa posted leading sales across several heavier weight classes, including 65 steers averaging 830 lbs. at $352 and 61 averaging 912 lbs. at $321.75.
Those sales illustrate an important distinction: a lower market does not mean every set of cattle is selling lower or poorly. Weight, quality, location, lot size and buyer demand continue to matter.
So What?
For cattlemen preparing to sell calves or yearlings this fall, the takeaway is straightforward: don't use the extraordinary early-August highs as the only benchmark for today's market.
Feeder prices have backed away from those levels, and recent cash reports show genuine weakness. At the same time, cattle remain valuable enough that differences in weight, quality, marketing and timing can represent substantial dollars per head.
September bears watching to see whether the late-August decline establishes a lower trading range or whether feeder markets regain some of the ground lost during the second half of August.
For now: the market is softer, not weak.
Dey Money
Cattle get worked. Cowboys get paid.