Livestock, Dairy & Poultry Outlook

Livestock, Dairy, and Poultry Outlook: April

Beef/Cattle: The 2025 beef production outlook is raised by 15 million pounds from last month to 26.700 billion pounds. Projections for cattle prices are higher as laughter steer prices are raised to $205.51 per hundredweight (cwt) and feeder steer prices are raised to $281.03 per cwt. Beef import and export forecasts are lowered to 4.860 billion pounds and 2.685 billion pounds, respectively. 

Dairy: The 2025 milk production forecast is increased to 226.9 (+0.7) billion pounds due to higher expected cow numbers (+25,000) and anticipated improved milk yield per cow (+10 pounds). Dairy product price forecasts are adjusted lower from last month's forecasts, including Cheddar cheese $1.790 (-2.0 cents), dry whey $0.510 (-1.50 cents), butter $2.445 (-7.0 cents), and non-fat dry milk (NDM) $1.22 (-3.5 cents). With lower price forecasts across main dairy products, the forecasts for Class III and IV milk prices are also revised downward from the previous projections to $17.60 (-$0.35) and $18.20 (-$0.60) per hundredweight (cwt), respectively. The all-milk price for 2025 is now forecast at $21.10 per cwt, down $0.50 from last month's forecast. 

Pork/Hogs: Information from the Quarterly Hogs and Pigs report published in March supports a moderate reduction in 2025 pork production. Total 2025 pork production is forecast at 28.1 billion pounds, down about 350 million pounds (1.2 percent) from the previous forecast in March. Prices of 2025 live equivalent 51–52 percent lean hogs are expected to average $61.14 per hundredweight, about 1 percent below average prices in 2024. While domestic pork demand remains robust, trade-related uncertainty on world markets is projected to pare down 2025 pork exports to about 7 billion pounds, about 2 percent below exports last year. 

Poultry/Eggs: Projected broiler production in 2025is adjusted up reflecting heavier weights and favorable margins, but projected broiler exports are lowered. Broiler prices are adjusted up in 2025 on recent price data and healthy demand. Projected table egg production is adjusted down on recent flock losses; egg and egg product imports are projected to increase while exports are projected to decrease from 2024. Projected egg prices in 2025 are adjusted down on recent price trends. Projected turkey meat production and exports are adjusted down on recent data, while prices are adjusted higher.