See the latest Livestock, Dairy, and Poultry Outlook report.
Report Summary
Beef/Cattle: Forecasts this month reflect the May 11 import ban on live cattle from or transiting Mexico, which is assumed to remain in place until the policy changes. Tighter anticipated supplies of feeder cattle will reduce U.S. beef production in 2026 by 5 percent year over year to 25.140 billion pounds. In 2025, the production forecast is lowered from last month to 26.423 billion pounds on slower expected pace of fed cattle slaughter. Forecasts for cattle prices in 2025 are raised from last month, and prices in 2026 are projected to reach new highs. The 2026 import forecast is expected to decline from the record forecast for 2025, while 2026 exports are forecast to decline by more than 6 percent. The per capita disappearance of beef on the domestic market in 2026 is expected to decline 4.6 percent to 56.4 pounds.