The USDA issued its first beef and pork production forecasts for 2025. Beef production is projected to decline by 1.5 billion pounds while the outlook for pork production will increase by about 330 million pounds compared to 2024.

University of Missouri’s Scott Brown explains that beef inventories will experience a 2.5-pound decline in per-cap consumption. Beef inventories will remain extremely tight. The USDA forecast average fed steer price is anticipated to be around $188.

Hog prices are projected to decrease by 4% from current price levels.

According to Brown, cattle and hog producers may experience a boost from lower feed costs. Corn prices are projected to decrease by 25 cents from current price levels and soybean meal is projected to decline by $50 per ton.

Read more about 2025 beef and pork projections here.