Montana Steer Prices Are Up 71%. Social Security Can Treat a Breeding Cow and a Market Steer as Two Different Kinds of Income

Montana feeder steer prices for the 550 to 649-pound benchmark are up about 71% since 2023, and recent Billings sales underline strong levels across feeder and replacement cattle. The article focuses on how those auction checks can matter more than ranchers expect because Social Security may treat a breeding cow sale differently from a market steer sale. A 64-year-old rancher (below his full retirement age of 67) faces the retirement earnings test in 2026, with an earnings limit of $24,480. Selling a steer can trigger withholding, while selling a mature breeding cow can avoid it because certain livestock sales aren’t counted.