Strong US demand pushes beef prices higher amid lower slaughter

Imported boneless, 90Cls frozen beef wholesale prices for the Central US for March sales were estimated at $386.00/hundredweight by the US Department of Agriculture in its last Livestock and Meat Domestic report. The estimate was up 0.2% from February prices and 21.3% from March 2025.

Domestic boneless, 90Cls fresh beef wholesale prices for the Central US for March sales were estimated at $436.25/hundredweight by the USDA, up 3.0% from February prices and 14.3% from March 2025.

"It is certainly a demand-driven environment as we have seen some slippage from cut meats to grinds," Caleb Hurst, principal analyst for cattle and beef at S&P Global Energy CERA, said. "This paints an exceptional story for overall lean trim demand as we continue to see severe increases in prices from last year."

"Beef cow slaughter levels are down 18% through February compared to last year, but the increase of 4.15% in dairy cow slaughter have helped limit the downside in overall beef production," Hurst added. "Couple this with the fact that we reached new record high imports we actually ended January with a 2% higher net lean beef supply than last year, and we are on pace to see a 1.5% increase in net lean beef supply for all of Q1."

Domestic spot fresh prices.

Meanwhile, in the spot fresh market, the USDA reported March 31, in the afternoon, that four trades for fresh 90CLs spot occurred at US central packing plants, with a weighted average of $449.91/hundredweight and a range of $441.00-$457.05/cwt.

That was above the trade's last week at around $445/cwt and two weeks ago at around $444/cwt.

For the fresh 85CLs spot market, the USDA reported April 1, in the morning, that six trades occurred at US central packing plants, with a weighted average of $403.11/hundredweight and a range of $393.05-$424.82/cwt.

That was above the trade's last week at around $393/cwt and above two weeks ago at around $392/cwt.

Platts US beef assessments

Platts assessed 90CL beef CIF East Coast US for 30- to 60-day shipment at $8,466/metric tons, or $3.84/lb, on April 1, unchanged from the previous business day, with last trades heard at those levels for New Zealand origin. The assessment was up 2.7% from a month ago, and up 26.3% from a year ago.

Platts assessed 90CL beef FCA US at $3.43/lb for a 15- to 60-day loading period on April 1, unchanged from the previous business day, with FOB port of entry value indications heard at those levels for South American origins.

Platts is part of S&P Global Energy.