North Dakota State University Extension recapped 2025 as a record year for beef cattle prices, with fed steers averaging $224/cwt versus $187 in 2024. Beef production fell nearly 4% to 26 billion pounds while China's tariffs and plant approval restrictions cut US beef exports.
Lower beef supply and weaker China export demand shape the cattle outlook into 2026, with prices supported by strong domestic and other export demand.
After 268 past bullish report events, LCATTLE moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, FCATTLE moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.