USDA's May Livestock, Dairy and Poultry Outlook raised its 2025 fed steer price forecast by $9 to $214.51/cwt, 15% above 2024. It expects 2026 feeder steer prices to rise further, and feeder steer demand is strong without Mexican feeder calves.
USDA expects higher cattle prices driven by tight young-cattle supplies, supporting feeder and live cattle values and signaling firm demand for cattle feed.
After 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.