In The Cattle Markets
Contributing Universities
June 16, 2025
Glynn T. Tonsor, Ph.D.
Professor
Department of Agricultural Economics
Kansas State University
Meat is Having a Moment
One of the most intentionally repeated phrases I have used in recent months is “meat is having a moment.” This reflects multiple signals that consumer desire for meat protein is strong and perhaps broader macroeconomic factors most risk near-term derailment of elevated meat demand supporting higher livestock prices.
This was discussed extensively at the World Pork Expo including an exchange with Tyne Morgan as captured in the recent US Farm Report (https://www.agweb.com/news/livestock/pork/3-factors-fueling-americans-obsession-protein). This situation applies not only to pork, but to beef as well. Per the Meat Demand Monitor project (beef and pork checkoff supported, based at Kansas State University), there is an upward trend in self-declared rates of being a meat consumer (versus Vegan or Vegetarian). Further, when it comes to influencing protein purchasing decisions, aspects such as Taste and Freshness have been growing for the typical U.S. resident relative to considerations such as Environmental Impact and Origin/Traceability. This is important to appreciate as stakeholders throughout the industry make production, marketing, and promotion decisions.
Ongoing macroeconomic uncertainty, largely tied to trade discussions and possible implications for realized inflation and/or unemployment domestically, presents itself as the largest headwind against an otherwise supportive consumer demand situation. There continue to be MDM based signals that food service demand is softer, likely reflecting household budget-driven behavior change. As the 2025 grilling season gets in full swing, perhaps bolstering retail meat demand, both the macroeconomic situation and the inner-industry developments in response are key to watch. This situation applies to all the major proteins and livestock sectors. Prospects for elevated livestock prices remain directly tied to the extent end-user consumer demand can remain robust. Hopefully, meat can “continue to have a moment!”
The Markets
| Week of 6/13/25 | Week of 6/6/25 | Week of 6/14/24 | ||
| 5-Area Fed Steer | all grades, live weight, $/cwt | $238.68 | $236.62 | $192.55 |
| all grades, dressed weight, $/cwt | $380.06 | $380.34 | $305.47 | |
| Boxed Beef | Choice Value, 600-900 lb., $/cwt | $373.67 | $365.71 | $318.29 |
| Choice-Select Spread, $/cwt | $12.46 | $8.77 | $17.56 | |
| 700-800 lb. Feeder Steer | Montana 3-market, $/cwt | $331.50 | $315.04 | $278.38 |
| Nebraska 7-market, $/cwt | — | $342.28 | $277.23 | |
| Oklahoma 8-market, $/cwt | $322.43 | $315.10 | $263.83 | |
| 500-600 lb. Feeder Steer | Montana 3-market, $/cwt | $421.73 | $365.00 | $345.00 |
| Nebraska 7-market, $/cwt | — | $416.07 | $337.01 | |
| Oklahoma 8-market, $/cwt | $377.25 | $377.60 | $320.35 | |
| Feed Grains | Corn, Omaha, NE, $/bu (Thursday) | $4.38 | $4.40 | $4.71 |
| DDGS, Nebraska, $/ton | $148.38 | $149.33 | $161.00 | |
Data Source: USDA-AMS Market News as compiled by LMIC
