US cattle prices hit record highs in 2026
Feeder steer forecast raised to $377 for the year, up 17%
2 July 2026
1 minute read
By: Feeder steer and slaughter steer prices set multiple new records in April and early May, prompting the USDA's Economic Research Service to raise its 2026 price forecasts, according to the agency's May livestock, dairy and poultry outlook.
The weighted-average price for feeder steers between 750 and 800 pounds at the Oklahoma City National Stockyards hit $383.69 per hundredweight in the second week of April, then climbed further to $388.06 in the first week of May — both all-time highs. The April monthly average came in at $377.07 per cwt, about $79 above April 2025.
The USDA raised its second-quarter feeder steer price forecast by $12 to $379 per cwt, with third and fourth quarter forecasts lifted by $13 and $15 to $380 and $384 respectively. The 2026 annual feeder steer price is forecast at $377.22 per cwt, up 17% from 2025.
Slaughter steer prices also set records, with the April average for the five-area marketing region reaching $249.05 per cwt, a monthly record. Weekly prices climbed above $258 per cwt in early May. The USDA raised its 2026 annual slaughter steer price forecast by $8 to $249.66 per cwt, 11% above 2025.
