USDA Lowers Price Expectation For Steers

The latest forecast from USDA shows a slight increase in beef production this year and next.  Mark Jekanowski, World Ag Outlook Board Chair says the increase this year is up to 190 million pounds, while 2026’s number increased to 340 million pounds.  And lower month over month steer prices for 2025 and 2026.

“We reduced our steer price forecast by $2 cwt for 2025 and then into 2026 we brought it down by about $11cwt," Jekanowski noted when recapping USDA’s December beef outlook.

Behind the beef production rise both years, heavier weights for steers.  As for the lower price projections, recent price weakness in both cash and future prices.

“And at the same time next year, there have been a few announcements of reduced slaughter capacity as well," Jekanowski  said.  "So that would be expected to reduce the demand for cattle at some degree on the margin and contribute to lower prices there.”

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