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Cattle & Beef - Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Report Summary

Beef/Cattle: The 2025 beef production forecast is lowered on a slower expected pace of cattle slaughter in the second half of the year. Beef production in 2026 is adjusted upward on greater anticipated marketings next year. 2025 slaughter steer prices are adjusted higher based on actual price data through June, and the 2026 forecast is unchanged from last month. Beef imports surged 60 percent year over year in May to 550 million pounds, raising the import forecasts for both 2025 and 2026. Exports were revised upward in 2025 on the recent pace of exports, and upward in 2026 on higher production output projected.