Cattle Prices Peak Before Herd Rebuilding Adds Supply

Cattle prices are expected to remain historically strong through 2027 as supplies stay tight.

Angus cattle grazing

nickalbi – stock.adobe.com

COLUMBIA, Mo. (RFD News) — Record cattle prices could extend into 2027 before gradual herd rebuilding adds enough supply to pull values lower, according to FAPRI’s latest U.S. agricultural market outlook.

Beef cow numbers are projected at 27.6 million head at the start of both 2026 and 2027 before increasing to 27.8 million in 2028 and nearly 30 million by 2031.

Five-area direct steer prices are forecast at $244.15 per hundredweight in 2026 and a record $247.21 in 2027. Feeder steer prices also peak in 2027 before easing as cattle inventories recover.

Beef production remains tight near 25.1 billion pounds in 2026 and 2027 before increasing more noticeably later in the projection period. Imports remain above 6 billion pounds during the near term as domestic supplies stay limited.

FAPRI describes the cattle-cycle turn as cautious, with tight supplies and resilient beef demand supporting strong producer returns before expansion gradually changes market conditions.

Farm-Level Takeaway: Cattle prices may remain historically strong through 2027, but gradual herd rebuilding eventually increases supply pressure.
Tony St. James, RFD News Markets Specialist

Tony St. James joined the RFD-TV talent team in August 2024, bringing a wealth of experience and a fresh perspective to RFD-TV and Rural Radio Channel 147 Sirius XM. In addition to his role as Market Specialist (collaborating with Scott “The Cow Guy” Shellady to provide radio and TV audiences with the latest updates on ag commodity markets), he hosts “Rural America Live” and serves as talent for trade shows.

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