While U.S. beef producers experienced record profitability in 2025, the industry likely hit cycle-high prices this fall and should prepare for a softer market in 2026, said CattleFax Vice President of Industry Relations and Analysis Kevin Good during Beef Industry University, sponsored by the Farm Credit Associations of Kansas. He added market forecasts are based on the expectation that the Mexican border will reopen in early 2026; tariffs will normalize; and domestic supplies will begin to increase between 2026 and 2027.
For 2026, Good predicts calf prices could range from $350/cwt. to $425/cwt., with feeder cattle averaging between $300/cwt. and $340/cwt. Fed cattle are expected to trade from $220/cwt. to $240/cwt.
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