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USDA's December outlook says slaughter steer prices averaged $221.02/cwt in November, the lowest since April, after U.S. beef tariff removals on Brazil and Tyson's packing cuts. The Q4 2025 slaughter steer forecast was lowered $8 to $226, and the 2026 forecast was lowered $11 to $235/cwt.
Lower packing capacity and Brazilian beef access reduce near-term cattle demand, though tight calf supplies still support higher 2026 prices for feeder and fed cattle buyers.
feedlotmagazine.comSources Russell Knight, Hannah Brooks, USDA, ERS, Katelyn SteffensDec 22, 2025After 126 past bearish report events, FCATTLE moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, LCATTLE moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% 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.
