1

User’s Guide to USDA LMR Cattle Price Reports

Livestock Mandatory Reporting (LMR) provides all market participants with the same open and transparent data 

for slaughter cattle, swine, sheep, boxed beef, lamb and 

wholesale pork. LMR market reports provide valuable information on price trends, supply and demand conditions, 

and the various purchase and sales methods used in the 

industry while protecting the confidentiality of proprietary transactions.

Federally inspected packing plants that annually process 

an average of 125,000 of cattle are required to report information to AMS. LMR cattle reports are based on two data 

sets provided by packers that meet reporting thresholds – 

purchase data and actual net slaughter price data.

Purchase data represents cattle purchased on a negotiated 

basis or “spot market” during a specified time period. Data 

includes actual prices with all other data based on estimates.

Slaughter data represents cattle that have been harvested 

during a specified time period. Data includes net prices, 

actual weights, dressing percentages, percent Choice and 

price ranges. Weekly reports start Monday afternoon and 

end the next Monday morning.

Currently, 34 plants report cattle information under LMR, 

accounting for 92 percent of cattle purchases in the United 

States. Market Reporters review between 5,000-8,000 cattle 

data records on a daily basis. These data are used to publish 24 daily and 20 weekly cattle reports. A listing of the 

reports can be found below.

AMS publishes 24 daily and 20 weekly cattle reports each week.

The reports cover time periods, regions and activities. The reports, which can be found at www.ams.usda.gov/LPGMN and are 

linked below, are:

Morning reports represent cattle purchased between 1:30 PM yesterday and 9:30 AM today:

• Direct Slaughter-Negotiated Purchases-AM(LM_CT113)

• Direct Slaughter-Committed & Delivered-AM(LM_CT104)

• Direct Slaughter-Formulated Purchases-AM(LM_CT107)

Afternoon reports represent cattle purchased between 9:30 AM today and 1:30 PM today:

• DirectSlaughter-NegotiatedPurchases-PM(LM_CT114)

• Kansas Daily Direct Negotiated Purchases-PM(LM_CT120)

• Colorado Daily Direct Negotiated Purchases-PM(LM_CT133)

• Slaughter Cattle Review-PM

• TX/OK/NM Daily Direct Negotiated Purchases-PM(LM_CT117)

•Nebraska Daily Direct Negotiated Purchases-PM(LM_CT123)

•IA/MN Daily Direct Negotiated Purchases-PM(LM_CT136)

• Direct Slaughter-Committed & Delivered-PM(LM_CT105)

• Direct Slaughter-Formulated & Grid-PM(LM_CT108)

Summary reports represent cattle purchased between 9:30 AM yesterday to 9:30 AM today:

• 5 Area Daily Wtd Avg Direct Slaughter Cattle(LM_CT100)

• Direct Slaughter-Committed & Delivered(LM_CT106)

• TX/OK/NM Daily Direct Negotiated Purchases(LM_CT118)

•Nebraska Daily Direct NegotiatedPurchases(LM_CT124)

•IA/MN Daily Direct NegotiatedPurchases(LM_CT137)

• Direct Slaughter-Formulated Purchases(LM_CT109)

• Direct Slaughter-Negotiated Purchases(LM_CT115)

• Kansas Daily Direct NegotiatedPurchases(LM_CT121)

• Colorado Daily Direct NegotiatedPurchases (LM_CT134)

• Slaughter Cattle Review-AM
2

Key LMR 

Definitions

An important aspect of any law or 

administrative rule is the definitions of various terms, outlined 

below.

Prices

Base price: The price paid for livestock, delivered at the packing plant, 

before application of any premiums 

or discounts, expressed in dollars 

per hundred pounds of hot carcass 

weight.

Net price: The price paid for livestock 

after application of any premiums or 

discounts, expressed in dollars per 

hundred pounds.

Discount: The adjustment, expressed 

in dollars per one hundred pounds, 

subtracted from the base price due to 

weight, quality characteristics, yield 

characteristics, livestock class, dark 

cutting, breed, dressing percentage or 

other characteristic.

Premium: The adjustment, expressed 

in dollars per one hundred pounds, 

added to the base price due to 

weight, quality characteristics, yield 

characteristics, livestock class and 

breed.

FOB: Free on board, regardless of the 

mode of transportation, at the point 

of direct shipment by the seller to the 

buyer or from a common basis point 

to the buyer.

Priced: The time when the final price 

is determined either through buyer-seller interaction and agreement 

or as a result of some other price 

determining method.

Prices for cattle: Includes the price 

per hundredweight; the purchase 

type; the quantity on a live and a 

dressed weight basis; the estimated 

live weight range; the average live 

weight; the estimated percentage of 

cattle of a USDA quality grade Choice 

or better; beef carcass classification; 

any premiums or discounts associated with weight, quality grade, yield 

grade or type of purchase; cattle 

State of origin; estimated cattle 

dressing percentage; and price basis 

as F.O.B. feedlot or delivered at the 

plant.

Purchase Type

Negotiated purchase, also known 

as a spot market purchase, is where 

the price is determined through 

buyer and seller interaction and the 

cattle are scheduled to be delivered 

to the plant within 30 days of the 

agreement. The packer reports these 

purchases as scheduled for delivery 

in either 0-14 days or 15-30 days.

Forward contract purchase is an 

agreement for the purchase of cattle, 

executed in advance of slaughter, 

where the base price is established 

by reference to prices quoted on the 

CME.

Negotiated grid purchase is where 

the base price is negotiated between 

buyer and seller and is known at the 

time the agreement is made, and 

delivery is usually expected within 

14 days. However, the final net price 

is determined by applying a series 

of premiums and discounts based on 

carcass performance after slaughter. 

The base price is submitted when established. The net price is submitted 

after slaughter and carcass grading 

has occurred.

Formula purchase is the advance 

commitment of cattle for slaughter 

by any means other than negotiated, 

negotiated grid or forward contract. 

Formulas use a pricing mechanism 

where the price is often not known 

until a future date.

Packer-owned information represents cattle that a packer has 

owned for at least 14 days immediately before slaughter.

Entities/Sellers

Producer: Any person engaged in 

the business of selling livestock to a 

packer for slaughter.

Packer: Any person engaged in the 

business of buying cattle in commerce for purposes of slaughter, of 

manufacturing or preparing meats 

or meat food from cattle for sale or 

shipment in commerce, or of marketing meats or meat food products 

from cattle in an unmanufactured 

form acting as a wholesale broker, 

dealer or distributor in commerce. 

For any calendar year, the term 

“packer” includes only a federally 

inspected cattle processing plant that 

slaughtered an average of 125,000 

head of cattle per year during the 

immediately preceding 5 calendar 

years. Additionally, in the case of a 

cattle processing plant that did not 

slaughter cattle during the immediately preceding 5 calendar years, it 

shall be considered a packer if the 

Secretary determines the processing 

plant should be considered a packer 

under this subpart after considering 

its capacity.

Others

Current slaughter week: The period 

beginning Monday, and ending Sunday, of the week in which a reporting 

day occurs.

Prior slaughter week: The Monday 

through Sunday prior to a reporting 

day.
Agricultural Marketing Service

3

Exported: Livestock or livestock 

products that are physically shipped 

to locations outside of the 50 States.

Imported: Livestock that are raised 

to slaughter weight outside of the 50 

States or livestock products produced 

outside of the 50 States.

Lot: A group of one or more livestock 

that is identified for the purpose of a 

single transaction between a buyer 

and a seller.

Origin: The State where the livestock 

were fed to slaughter weight.

Carcass characteristics: The range 

and average carcass weight in 

pounds, the quality grade and yield 

grade (if applicable), and the average 

cattle dressing percentage.

Cattle committed: Cattle that are 

scheduled to be delivered to a packer 

within the 7-day period beginning on 

the date of an agreement to sell the 

cattle.

Reporting times: The corporate 

officers or officially designated representatives of each steer and heifer 

packer processing plant shall report 

to the Secretary at least two times 

each reporting day not later than 

10 a.m. Central Time and not later 

than 2 p.m. Central Time the required 

information, inclusive since the last 

reporting, categorized to clearly 

delineate domestic from imported 

market purchases.

Continue to page 4 for an example 

of the 5 Area Weekly Weighted Average Direct Slaughter Cattle report.
4

Below is an example of the 5-Area Weekly Weighted Average Direct 

Slaughter Cattle report, along with explanations of key sections of the 

report at left.

Texas/Oklahoma/New Mexico; 

Kansas; Nebraska; Colorado; 

Iowa/Minnesota feedlots: 

Regions included in the 5-Area 

reporting region.

(Includes all transactions 

regardless of delivery day): 

Negotiated purchases for 

delivery in 0 to 30 days.

Week Ending Sunday, 

8/23/2020: The live cattle 

reporting week for begins 

Monday at 2:00 p.m. Central 

and ends the following Monday 

at 10:00 a.m.

Confirmed:114,888: Confirmed 

Negotiated purchases for 

Steers, Heifers, Mixed Steer/

Heifers, Dairybreds and Mixed 

Steer/Heifer/Cow class codes.

Wtd Avg Price: Weighted 

average price based on the 

volume and price of each 

reported transaction. 

STEERS: LIVE FOB:

“Live” signals purchase made 

on a live weight basis. “Free on 

board” means freight costs are 

paid by the purchaser.

STEERS: LIVE DELIVERED: 

Delivered basis means freight 

costs are paid by the seller.

Texas/Oklahoma/New Mexico; Kansas; Nebraska; Colorado; Iowa/Minnesota feedlots

(Includes all transactions regardless of delivery day) 

For: Week Ending Sunday, 8/23/2020 

Confirmed:114,888 Week Ago: 109,200 Year ago: 55,768 

Negotiated Purchases

Head 

Count

Weight 

Range 

Price 

Range 

Avg 

Weight 

Wtd Avg 

Price 

STEERS: 

LIVE FOB 

Over 80% 

Choice 26,852

1,320 - 

1,585

103.00 - 

110.00 1,486 106.82

65 - 80% 

Choice 11,005

1,200 - 

1,625

104.00 - 

108.00 1,444 106.16

35 - 65% 

Choice 2,924

1,200 - 

1,450

106.00 - 

106.50 1,356 106.09

0 - 35% 

Choice 142

1,425 - 

1,450

108.00 - 

109.00 1,437 108.75

Total all 

grades 40,923

1,200 - 

1,625

103.00 - 

110.00 1,465 106.59

STEERS: 

LIVE 

DELIVERED

Over 80% 

Choice 2,743

1,325 - 

1,550

106.00 - 

110.00 1,499 108.24

65 - 80% 

Choice 2,095

1,375 - 

1,450

106.00 - 

107.50 1,447 107.42

35 - 65% 

Choice

0 - 35% 

Choice
Agricultural Marketing Service

5

Weight Range: Low to high 

weight.

Price Range: Low to high 

price.

Avg Weight: Weighted 

average weight. 

Total all grades: Head count 

total and weighted average 

calculation for the preceding 

4 grade categories.

STEERS: DRESSED

DELIVERED: Purchase made 

on a dressed weight basis 

(hot carcass weight captured 

prior to chilling).

65 - 80% Choice: Cattle 

purchase estimated to grade 

between 65-85% USDA 

Choice by the packer at time 

of purchase.

EXPLANATIONS 

FOR REPORT 

CATEGORIES NOT 

SHOWN

MIXED STEER/HEIFERS:

LIVE FOB: Represents steers 

and heifers fed in a comingled pen.

ALL BEEF TYPE STEERS 

AND HEIFERS: Includes 

Steers, Heifers & Mixed 

Steer/Heifers class codes.

Head 

Count

Weight 

Range 

Price 

Range 

Avg 

Weight 

Wtd Avg 

Price 

Total all grades 4,838

1,325 - 

1,550

106.00 - 

110.00 1,476 107.89

STEERS: 

DRESSED

DELIVERED

Over 80% 

Choice 15,356

842 - 

1,014

167.00 - 

173.00 955 169.34

65 - 80% 

Choice 3,836

794 - 

992

169.00 - 

172.00 912 169.70

35 - 65% 

Choice

0 - 35% Choice

Total all grades 19,192

794 - 

1,014

167.00 - 

173.00 946 169.41

STEERS: 

DRESSED 

FOB

Over 80% 

Choice 1,627

841 - 

968

167.00 - 

170.00 928 169.72

65 - 80% 

Choice 

35 - 65% 

Choice

0 - 35% Choice 36

896 - 

896

168.00 - 

168.00 896 168.00

Total all grades 1,663

841 - 

968

167.00 - 

170.00 927 169.68

HEIFERS: 

LIVE FOB

Over 80% 

Choice 14,617

1,200 - 

1,450

104.00 - 

109.00 1,329 106.43

65 - 80% 

Choice 5,455

1,108 - 

1,400

106.00 - 

106.75 1,281 106.05

35 - 65% 

Choice 1,570

1,175 - 

1,300

105.00 - 

106.00 1,238 105.91

0 - 35% Choice 

Total all grades 21,642

1,108 - 

1,450

104.00 - 

109.00 1,310 106.29

HEIFERS: 

LIVE 

DELIVERED

Over 80% 

Choice 1,490

1,200 - 

1,350

107.00 - 

110.00 1,289 108.09
6

W E E K LY W E I G H T E D 

AVERAGES: Weekly 

weighted averages for steers 

and heifers for Live FOB and 

Dressed Delivered shipment 

basis. Encompassing the 

reporting week from the 

previous Monday to the 

current Monday.

SAME PERIOD LAST WEEK:

Represents the previous 

reporting week.

SAME PERIOD LAST YEAR:

Represents the same 

reporting week a year ago.

WEEKLY WEIGHTED 

AVERAGES Head Count Avg Weight Avg Price

Live FOB Steer 40,923 1,465 106.59

Live FOB Heifer 21,642 1,310 106.29

Dressed Del Steer 19,192 946 169.41

Dressed Del Heifer 8,861 839 169.40

SAME PERIOD 

LAST WEEK

Live FOB Steer 37,376 1,449 105.06

Live FOB Heifer 21,674 1,302 104.48

Dressed Del Steer 17,185 941 168.04

Dressed Del Heifer 6,233 840 168.37

SAME PERIOD 

LAST YEAR

Live FOB Steer 12,190 1,393 107.12

Live FOB Heifer 8,009 1,267 106.92

Dressed Del Steer 15,010 898 175.34

Dressed Del Heifer 7,312 810 175.82

W E E K LY P R I C E 

DISTRIBUTION: Price/

volume distribution in 

50¢ increments for each 

shipment and delivery basis.

WEEKLY PRICE DISTRIBUTION

Live FOB Dressed Delivered

Head Price Head Price

62 103.00-103.49 512 167.00-167.49

0 103.50-103.99 0 167.50-167.99

833 104.00-104.49 4,090 168.00-168.49

132 104.50-104.99 0 168.50-168.99

756 105.00-105.49 21,610 169.00-169.49

110 105.50-105.99 0 169.50-169.99

42,158 106.00-106.49 443 170.00-170.49

8,985 106.50-106.99 0 170.50-170.99

10,786 107.00-107.49 1,189 171.00-171.49

207 107.50-107.99 0 171.50-171.99

5,123 108.00-108.49 3,540 172.00-172.49

376 108.50-108.99 0 172.50-172.99

3,111 109.00-109.49 600 173.00-173.49

0 109.50-109.99 0 173.50-173.99

160 110.00-110.49 150 174.00-174.49

Contact Us: If you need additional 

assistance, please call our Market 

News team at (816) 676-7000 or 

email us at websupport.lpgmn@

usda.gov. 

October 2020. USDA is an equal 

opportunity provider, employer and 

lender.