Livestock Marketing Information Center
In The Cattle Markets
Updated: 1/12/2026
A Preview of 2025 Cattle Slaughter & Beef Production
The final reports summarizing 2025 cattle slaughter numbers and total beef production, and 2026 herd inventory, will be released towards the end of this month. However, data available through the end of November provides a clear picture of tightening cattle supplies, declining slaughter levels, and reduced beef production.
Livestock Monitor
Updated: 1/9/2026
DECLINES IN 2025 CATTLE SLAUGHTER NEAR 2014 LEVELS
As of the end of November, federally inspected cattle slaughter reported by USDA-NASS for 2025 was recorded down -7.1% to just over 26.7 million head. Including data for actual and estimated daily slaughter in December from USDA-AMS, total slaughter for the year is about 29.1 million head, which equates to a year-to-year loss of roughly -6.9%. For context, the last time slaughter posted year-to-year declines in the -7% range was from 2013 to 2014 (-7.1%); slaughter then bottomed out the following year in 2015.
DECEMBER HOGS AND PIGS: MARGINAL RISE IN HOG INVENTORY
The December Hogs and Pigs report was released by USDA-NASS just before the holiday season. Inventory for all hogs and pigs was reported at just over 75.5 million head, up less than one percent (+0.6%) from last year and the highest December 1 hog inventory since 2020 (77 million head). The increase in inventory levels was the opposite direction of average pre-report estimates, which were expecting a decline of -0.9%.
TURKEY INVENTORIES RECORD-SMALL AS SUMMER CONSUMPTION JUMPS
Recent released meat cold storage inventories lead to a revelation that turkey consumption during the summer quarter was surging. Turkey consumption during the first half of the year was down about -8% from a year earlier. Summer quarter consumption swung to a +5% increase. Turkey production during the quarter was down less than -1%. Inventories of turkey in cold storage on October 1 were -12% from a year earlier, although whole birds in freezers were only down -4%. The big decline was for meats and parts, down -20% from a year earlier.
Livestock Monitor (pdf)