Livestock Marketing Information Center

Livestock Monitor
Updated: 1/23/2026

HEIFERS AS A PERCENT ON FEED INCREASES FROM OCTOBER LEVELS

The final Cattle on Feed report for 2025 was released today by the USDA-National Agriculture Statistics Service (NASS) with January 1 inventory levels. Overall, the report was about as close as one could hope with pre-report estimates. Total cattle on feed came in spot on at down -3.2% to 11.45 million head. Losses during the month came as a result of what has been nine consecutive months of declines in placements. In December, placements on feed fell -5.4% to 1.55 million head, which was higher than the average -6.9% loss expected by analysts. At the other end of the yard, marketings increased in December by +1.8% to 1.77 million head at the inclusion of one additional slaughter day compared to a year ago; the realized value was +0.1% higher from average forecasts.

COLD STORAGE STOCKS: RED MEAT DECLINES, CHICKEN RISES

USDA-NASS released the December Cold Storage report, and as of the first of the month, total red meat in cold storage was reported down nearly -3% from last year to 845.3 million pounds. In 2025, red meat stocks trended below a year ago for each month. Total beef in cold storage as of December 1st was down -3.5% to 437.5 million pounds. Stock levels during the fourth quarter trended below year-ago levels, which signaled stronger demand heading into the holiday season, especially for boneless beef cuts.

CHICKEN INDUSTRY KEEPING PRODUCTION PLANS IN CHECK FOR 2026

Broiler-type chick hatchery output was up +1% in December, the 10th consecutive month of either no change from a year earlier or a 1% change. Broiler meat production in 2025 was up +2.3% from a year earlier (based on 11 months of hard data from USDA-NASS) with about half of the increase accounted for by heavier average birds at time of processing. The forecast for hatchings in the first quarter of 2026 shows a similar +1% increase compared to the first quarter of 2025.