By Jamie Martin
Cattle prices continue to climb across the U.S., with feeder and live steer prices reaching record levels in late June 2025. According to USDA Agricultural Marketing Service (AMS), 500–600 lb.
feeder steers in Nebraska were selling for around $428 per hundredweight (cwt), an increase of $74 since January and $124 more than a year ago. Live steer prices also rose to nearly $231/cwt, up from $198/cwt a year earlier.
These price increases are supported by both supply and demand changes. On the supply side, fewer domestic calves and reduced imports from Mexico have led to a tighter cattle supply.
The AMS reported cattle slaughter was down over 8% at the end of June compared to the same period in 2024. Fed cattle slaughter has dropped by 7% since late April, according to the Daily Livestock Report.
On the demand side, strong consumer demand continues despite higher beef prices. Increased packer capacity is also driving competition for fewer available cattle, with new facilities like Sustainable Beef in North Platte entering the market.
Although the reopening of the border to Mexican cattle caused a brief decline in feeder cattle futures, market fundamentals remain strong. Cow-calf producers are beginning to retain more heifers, which may reduce feedlot placements in the short term.
"It appears that higher prices and profits will work their magic to spur a production increase in 2026,” the report stated.
As long as packers continue processing at current levels and consumer demand remains steady, cattle prices are expected to stay strong. This trend is especially important for Nebraska, where cattle account for nearly half of total agricultural receipts.
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