USDA Trims Steer Prices, 2026 Production Expectations

The USDA lowered its latest beef production forecast for 2026 by 20 million pounds.  World Ag Outlook Chairman Mark Jekanowski says this change reflects the fact that the Department is anticipating a dip in steer and heifer slaughter.

“Year-over-year, supplies tightening up, so year-over-year production would be down about 210 million pounds," he said.  "Just for some perspective, or current 2026 beef production forecast sits right at about 25.8 billion pounds.”

When it came to the steer price forecast, Jekanowski noted there was a relatively small change.  The prices decreased 34 cents cwt.  Despite that drop, steer prices are still high at $241.66 cwt, which is up $17.30 year-over-year.

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