Record Cattle Prices in ’25, Outlook Steady for 2026

In the latest edition of Agriculture By The Numbers, NDSU Extension Livestock Marketing Specialist Tim Petry provided an outlook on the cattle market. This past year was a record year, driven by six years of declining beef cow numbers and strong domestic and export demand. Fed steer prices averaged $224 per hundredweight, up from $187 in 2024, while North Dakota calf prices reached an average $449 per hundredweight, $114 higher than the previous year. Feeder steers and beef cull cows also set record prices. Looking ahead to 2026, USDA projects beef production to decline slightly to 25.7 billion pounds, maintaining tight supplies. Prices are expected to remain strong but may not rise as sharply as in 2025, with seasonal declines likely by fall.