Feedyard

Total cattle numbers are tight, but the beef industry is maximizing every head. Two economists break down the “uneven” slaughter trends shaping the 2026 outlook.

Terrain’s Dave Weaber says herd expansion remains on hold heading into 2027, with feeder cattle and fed cattle prices expected to hit new highs in Q3 — even as a potential strong El Niño and the Cargill Fort Morgan lockout add fresh uncertainty to the supply picture.

U.S. feedlot inventory hits 11.5 million as the closure of Lubbock Feeders signals growing pressure from border disruptions and declining cow herd numbers.

Terrain’s Dave Weaber says placements of cattle into feedlots will continue to shrink, long-feared beef slaughter capacity reductions have arrived, and the beef cow herd hasn’t begun to expand.

Meat Institute report analyzes the state of beef cattle markets and points out current pricing myths.

Data was mostly neutral compared to pre-report expectations.

JBS is the world’s largest meatpacker and it controls around 25% of all U.S. beef capacity and roughly 20% of its hog slaughter capacity.