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Prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports.
Cattle
USDA’s latest Cattle on Feed report included no surprises, although placements were lower than expected. Cattle placed into feedlots during January totaled 1.74 million head, 5% fewer than a year ago. Total cattle in feedlots over 1,000 head on February 1 was 11.5 million head, 2% lower than 2025. USDA also released a Monthly Slaughter report last week. Cattle harvest in January was 6% lower than last year, with beef production 11% lower. Beef cow harvest continues to decline, with a 19% drop from last year. For the month, 58% of cow harvest was made up of dairy cows. USDA’s harvest estimate for last week was 516,000 head, 25,000 fewer than the previous week and 49,000 fewer than a year ago.
The Choice beef cutout averaged $365.64 last week, a decrease of 47 cents. Show lists were smaller in Texas and Kansas for the second week, due partially to the border with Mexico being closed, but were larger in Nebraska as the Tyson plant closer has slowed harvest there. December beef exports totaled 98,595 metric tons, down 10.5% from a year ago but the largest since April (access to China was largely lost in March). Japan maintained its position as the leading volume market for U.S. beef exports in December. Exports there included more than 5,000 metric tons of beef variety meat (mostly tongues and skirts), which were up 47% from a year ago. For the calendar year, beef exports were 12% lower in volume and were 11% lower in value. The 2025 beef export values average was $391.94 per head, a 6% drop from 2024.
Top Quality
Fed cattle were $1-$2 higher this week. Top quality beef steers and heifers brought $228-$242/cwt, with a few higher. Mixed Choice and Select steers and heifers ranged from $214-230/cwt. High grading Holstein steers were higher at $192-$215/cwt, with several packages selling higher. Lower grading steers brought $170-$192/cwt. Silage fed, under finished steers brought $90-$170/cwt. Dairy Beef cross steers were steady to $2 higher, bringing $190-$236. Cows were mixed. Most cows brought $119-$150/cwt with a few selling into the mid $160s. Lower yielding cows brought $65-$119/cwt. Doubtful health and thin cows brought up to $65/cwt. Dairy breed bull calves were higher, selling from $700-$1,600/head, with some higher. Dairy breed heifer calves brought $200-$700/head. Beef and Beef Cross calves were steady from $750 to $2,000/head. Light and lower quality calves sold up to $60.
