[REVISION HISTORY]
US beef prices drop; herd at record low, margins tight
Updated 2 times since CLSTR started tracking revisions of this situation.
What changed
2026-07-26 23:47 UTC → 2026-07-28 22:49 UTC ·
added
removed
US beef prices fall; inventory flat, drop; herd at record low, margins tight
Late‑May beef steer prices kept falling, sliding, with the five‑Area negotiated average dropping to at $238.59 per cwt cwt, roughly $24 below the recent peak, and the Choice carcass cutout slipping to $371.21 per cwt. The decline, together with rising higher feed and fuel costs, has pushed many feedlots into negative margins. The upcoming forthcoming Cattle‑on‑Feed report is expected to show that a large share of the inventory has cattle have been on feed for 150 days or more, indicating most animals are near market readiness, readiness despite a modest overall inventory. The USDA’s July 2026 cattle inventory report revealed the beef cow herd fell to 28.5 million head, the lowest figure on record since reporting began in 1973, while harvest estimates remain around 525,000 head. total cattle and calves stood at 94.2 million. The projected calf crop slipped to 32.5 million head, down 2 % and the smallest on record, though replacement heifers over 500 lb rose 3 % to 3.8 million, hinting at a gradual rebuilding. Tight supplies have kept wholesale and retail beef prices at record levels throughout the year. Pork markets showed modest improvement: gains: the pork cutout stayed above $100 at rose from $102.21 and later reached $103.50, with to $103.50 per cwt, lean‑hog futures advancing advanced, and export sales to Mexico up jumped 33 % week‑over‑week. The week‑over‑week to 28,800 metric tons. USDA mid‑year cattle inventory report released on 24 July projects the total herd at about 93.9 million head, essentially unchanged from also announced a year earlier. The figure reflects drought‑driven cow culling and an unusually high proportion phased reopening of heifers in feedlots (≈37 %). Despite the flat inventory, tight supplies have kept beef prices elevated, with live‑cattle futures near a five‑month low and cash Mexican cattle trading import ports starting 24 Aug at historically low levels. Livestock stress Douglas, AZ, with full screwworm inspections. The limited short‑term feeder flow is high in seen as the Plains states due to heat, but feed‑lot placements remain strong, supporting resilient first step toward easing supply constraints, although analysts expect firm beef demand. In related trade news, Mexico lifted pseudorabies restrictions on U.S. pork off‑al, restoring an estimated $6‑7 million of weekly trade. pricing to persist into 2027 as herd rebuilding continues.
Versions
- 2026-07-28 22:49 UTC US beef prices drop; herd at record low, margins tight
- 2026-07-26 23:47 UTC US beef prices fall; inventory flat, margins tight
- 2026-07-26 16:28 UTC US beef prices fall; feedlot margins tighten
Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.