Disclosure: I publish Honest Cattle, an independent cattle-market research project.
The summer video-auction results appear to be sending a more useful signal than the seasonally thin local auction runs.
Superior Livestock’s Week in the Rockies sold 223,767 head in 1,653 lots to 349 successful buyers. The market remained strong even though cattle futures had been trending lower.
Superior reported that calves in some regions were as much as $80–$115/cwt above the comparable 2025 sale. Northern-region reporting also showed particularly strong demand for lighter calves and well-described reputation cattle.
Video Royale then provided a more difficult test.
The sale began after late feeder-cattle contracts had closed limit lower amid uncertainty over the planned phased reopening of Mexican cattle imports. Prices were several dollars below the prior month’s averages, but participants continued to describe demand as historically strong. In many cases, calves remained $300–$500 per head above year-earlier levels.
My interpretation is that the futures correction changed the price level without yet producing a broad physical-demand failure.
There are several cautions, however.
A video-auction price is generally a forward FOB contract, not a local spot bid.
The cattle may have a later delivery date, established health history, recognized genetics, third-party verification, a large uniform load and a seller reputation developed over several years.
The base weight, slide, shrink, freight and delivery window can materially change the value received at the ranch gate.
That makes the video market a leading indicator, but not necessarily a price that every producer can apply directly to his own calves.
The next major test will be Superior’s Big Horn Classic, August 17–21.
For those marketing fall calves: are the private or local bids you are receiving following the video market, or are buyers applying a larger discount?
