High Demand and Tight Supply Push Cattle Values Upward
Cattle prices across the United States have climbed steadily since mid-April. Feeder steer auction prices are up between 5 and 10 percent, with live steer prices averaging $238.68 last week—a record high and 13 percent higher than mid-April. These figures are 20 to 25 percent above prices from the same time last year.
The beef market is seeing similar trends. As of June 16, the Choice boxed beef cutout value hit $382.11 per cwt, a 19 percent year-over-year increase. This price rise has extended beyond the usual seasonal peaks seen ahead of summer grilling season.
“The continued weekly increases have already pushed past when many would normally expect the seasonal peak to occur ahead of summer grilling season,” stated the report. The only other time cutout values surpassed $380 per cwt was during a short COVID-related spike in May 2020.
Primal beef cuts are experiencing significant value jumps. The rib is up 10 percent to $538.29, chuck increased 21 percent to $316.32, and round rose 20 percent to $311.73.
Loin reached $541.41 (up 19 percent), brisket climbed 30 percent to $324.36, short plate rose 29 percent to $270.75, and flank is up 26 percent to $211.57.
These increases reflect how individual cuts impact overall carcass value. Tight supplies are expected to keep prices high into July, similar to the trends seen in 2023 and 2024.
This year is shaping up to continue that pattern, driven by strong demand and limited inventory.