Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Report Summary

Beef/Cattle: Forecasts this month reflect the recent discovery of New World Screwworm in cattle in Mexico and the subsequent U.S. import ban on cattle from or transiting Mexico. The ban is assumed to remain in place until the policy changes, which is anticipated to limit available slaughter cattle starting in second-quarter 2025. As a result of lower expected slaughter next year, the 2025 beef production forecast is lowered 615 million pounds from last month to 25.665 billion pounds. The 2025 outlook for feeder and slaughter cattle prices is raised on fewer cattle available for placement and consequently fewer slaughter cattle available later in 2025. Next year’s slaughter steer prices are forecast to increase over 2 percent year over year, while feeder steers are forecast to increase 8 percent. Beef imports in fourth-quarter 2024 are raised on October trade data and weekly import inspections. In 2025, the import forecast is raised on less domestic supply available to meet demand. Beef exports are unchanged from last month in fourth-quarter 2024, but the 2025 forecast is lowered from last month on fewer available exportable supplies.

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Livestock and Meat Domestic Data Livestock and Meat International Trade Data Meat Price Spreads Feed Grains Database International Baseline Data

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Animal Products Animal Policy & Regulatory Issues Corn and Other Feed Grains Crop & Livestock Practices Agricultural Baseline

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