Livestock Marketing Information Center
In The Cattle Markets
Updated: 5/12/2025
Beef Production in the First Quarter of 2025
Livestock slaughter in the first quarter totaled 7.38 million head, down 4 percent or 321 thousand head from the first quarter of 2024. Cow slaughter, beef cow slaughter, and heifer slaughter in March were higher than in February, but totals in the first quarter were lower year-over-year. As a percentage of total slaughter, cow slaughter was 17.5 percent, beef cow slaughter was 8 percent, and heifer slaughter was 32.5 percent in the first quarter. Beef cow slaughter through March has fallen by 20 percent year-over-year, indicating, at this rate, we may see the national culling rate for 2025 fall to levels we saw during the last expansion (about 9 percent).
Livestock Monitor
Updated: 5/9/2025
CATTLE PRICES CONTINUE TO CLIMB
Fed cattle prices continued to move higher over the last four consecutive weeks. Last week’s fed steer price (5-Area weighted average) was $220.97 per cwt, a record at +19% ($35.23 per cwt) above the same week a year ago. The fed steer price started the year at $198.93 per cwt, which marks an +11% ($22.04 per cwt) increase in just over four months. Since the start of the year, the fed steer price has been below $200 per cwt just three times: the first week of the year ($198.93), the last week of February ($199.64), and the first week of March ($197.65).
FIRST QUARTER TRADE UPDATE
The USDA-Economic Research Service (ERS) reported meat trade on Wednesday, capping off the first quarter (Q1) of 2025. In the report, imports of beef shot up +24% to 1.5 billion pounds against Q1 2024. Year-over-year changes were driven predominantly by gains out of Brazil (+44%), Australia (+32%), and Uruguay (+43%) to 366, 298, and 101 million pounds, respectively; imports of Canadian beef declined -8% to 255 million pounds. Beef exports continue to decline in 2025 with year-over-year losses at -3% to 713 million pounds. In the mix, shipments to Japan, Mexico, and South Korea drove the decline, falling
-4%, -10%, and -1%, respectively, to 160, 78, and 158 million pounds.
CHICKEN MARKET UPDATE
Chicken markets during the first three months of the year experienced a +1% increase in production from a year earlier, and wholesale prices were significantly higher for some products. Wholesale breast meat prices during the first quarter were +40% higher than a year earlier, and leg quarters prices were up +16%. The exception was wings as prices were down -9%. Whole bird wholesale prices were +4% higher than a year ago.
Livestock Monitor (pdf)