Cattle Prices Expected to Remain Strong into ’25

In its supply/demand report, USDA reduced 2024 U.S. red meat and poultry production from last month. Output is forecast to be lower for broilers, turkeys and pork. Beef production rose due to increased cattle slaughter and heavier dressed weights. For 2025, cattle prices are expected to continue upward due to tighter domestic supplies and higher heifer retention rates. This year’s milk production was adjusted higher with rising per-cow milk production and a larger dairy herd.