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Five-weight steer prices in several southern states topped $450 per cwt, all record highs, and the weekly 5-market fed steer average was $246.91. The May 2026 feeder futures contract was near $358, well below its October peak above $370.
USDA's February WASDE projects fed cattle averaging $240 in 2026.
Record cash prices and tight feeder supplies support higher cattle values through 2026. Strong beef demand reinforces the bullish outlook for feeder and fed cattle.
u.osu.eduSmith atFeb 25, 2026After 268 past bullish report events, Live Cattle 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, Feeder Cattle 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.
