Cattle and beef market 2025 midyear review
- ZISK
- Jul 14
- 1 min read
Cattle and beef prices are sharply higher through the first half of 2025 (Figures). Oklahoma City steer prices for 500-600 lb. calves have averaged $347/cwt. year-to-date, up 21% from the same period in 2024 and more than double the 2019-2023 average. Feeder prices (700-800 lb.) are averaging $281/cwt., a 17% year-over-year increase. Fed cattle prices in the five-area region are averaging $215/cwt., up 16% from last year, while the Choice boxed beef cutout has averaged $342/cwt. — 13% higher than 2024 and close to 31% above the five-year average.
Cattle inventories remain the fundamental driver. The Jan. 1 Cattle report showed total U.S. cattle inventories at 86.7 million head, the smallest since 1951. Beef cow numbers declined again to 27.9 million head, and calf crop estimates suggest fewer feeder cattle will be available for the rest of the year. These supply constraints are supporting prices across market segments.
Trade policy and animal health have added new layers of risk to markets.
University of Missouri
July 9, 2025
Comments