See the latest Livestock, Dairy, and Poultry Outlook report.
Report Summary
Beef/Cattle: Based on the mid-year Cattle report, a further tightening is expected of calves available for placement in late 2025 and early 2026. The report also suggests steady but gradual changes to inventories of beef cows and replacement heifers. As a result, 2025 and 2026 beef production forecasts are reduced from last month. Cattle prices are raised significantly in both the second half of 2025 and in 2026 on recent cattle price reports, strong beef prices, and tighter cattle supplies. Beef imports for 2025 and 2026 are revised considerably downward as limited imports from Brazil are expected. Exports were revised moderately downward in 2025 and 2026 on lower projected production.