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Packers slowed steer and heifer slaughter in the second quarter of 2025, and federally inspected slaughter fell from April to May for the first time since the series began in 1970. Weekly 5-area steer prices set eight consecutive records, with the week ending June 15 at $238.68/cwt.
Fewer cattle slaughtered than expected lifts boxed beef and cash cattle prices, and tight fed supply supports feeder cattle values for feedlot buyers.
Not enough comparable past events yet for a historical read.
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.