Livestock Marketing Information Center
In The Cattle Markets
Updated: 11/03/2025
Reflecting on the Bigger Picture
After a couple of wild weeks in cattle markets, let’s take a step back to review the bigger picture. The supply side remains tight with limited opportunities to expand in the short run. Cull cows from the dairy sector may offset some of the reduction beef cull cows on tighter dairy margins. However, this offset is partial. Additionally, dressed weight increases may be topping out. In September, year-over-year increases in cattle dressed weights ranged from 1.5-2.1 percent. In contrast, dressed weights in January saw year-over-year increases of around 3.2-5.3 percent. Lastly, changes in beef imports are limited and likely more complementary to existing beef supplies, as imports are often lean beef being blended for ground beef.
Livestock Monitor
Updated: 10/24/2025
HOG AND PORK PRICE UPDATE
Moving into the fourth quarter, hog and pork prices continue to track above year-ago levels. The early weaned (10-12 lbs.) feeder pig price was $64.68 per head last week, up +40% ($18.54 per head) from the same week last year. Prices dipped to $44.41 per head in early April; since that week, the early weaned feeder pig price has increased +46% ($20.27 per head). Prices for 40-pound feeder pigs have been above year-ago levels since about May. Last week’s 40-pound feeder pig price was $80.27 per head, up +30% ($18.66 per head) from the previous year.
CATTLE ON FEED “PRE”-REPORT ESTIMATES
Today, we were supposed to receive the October 1 numbers for Cattle on Feed from USDA-NASS. However, as the government shutdown persists, the report is unlikely to be released, at least anytime soon. As a proxy, pre-report estimates for Cattle on Feed are available. Although, the following discussed estimates should be taken with a grain of salt given they are not the official USDA-reported values.
CHICKEN PRICES STRUGGLE AS DEMAND WANES AND PRODUCTION POPS UP
Chicken parts and meat prices have dropped significantly since Labor Day, with the declines since the last week in September being surprisingly pronounced. Breast meat prices averaged about $1.80 per pound during Labor Day week but finished the month around $1.25. Summer quarter breast meat prices averaged $1.81 per pound compared to $1.85 a year earlier with production for the quarter being up about +2%. .
Livestock Monitor (pdf)