US cattle prices hit record highs in August, forecasts rise
USDA lifts 2025–26 steer and feeder price projections
8 October 2025
1 minute read
By: The August price for US slaughter steers in the 5-area marketing region set a new monthly average record at $243.14 per hundredweight (cwt), which was $6 higher than July and almost $54 above August last year, according to the US Department of Agriculture's Livestock, Dairy, and Poultry Outlook for September.
In early September, weekly cattle and wholesale prices softened from the daily highs set in late August but remain historically elevated. As a result, the third-quarter price forecast for slaughter steers is raised by $2 to $240.00 per cwt and the fourth quarter is raised $4 to $244.00 per cwt. With that price strength being carried into 2026, the forecast for the annual price is raised $5 to $248.50 per cwt.
In August, the weighted-average price for feeder steers weighing 750–800 pounds at the Oklahoma City National Stockyards was $355.55 per cwt, also a new monthly record. This price was an increase of $20.46 from July and more than $121 above last year. In the sale on September 8, feeder steers set a new weekly record of $367.89 per cwt. Accounting for recent price strength, the third-quarter price forecast for feeder steers is raised $10 to $353.00 per cwt and the fourth quarter is raised $18 to $363.00 per cwt. This price strength is expected to carry into next year with the 2026 forecast raised $12 to $362.25 per cwt.
