26 NEBRASKA CATTLEMAN January 2026 Tariff changes in late 2025 are expected to boost beef imports somewhat relative to the fall period (when Brazil was facing incredibly high tariffs). This may slightly moderate imported lean trimmings values, which have been high relative to domestic lean (non-fed) beef markets. However, most imported beef is used for ground beef in the food service sector, and no impact is expected on retail grocery hamburger prices and certainly not on steak or other beef product prices. Cattle Prices After setting new records through much of 2025, cattle prices were pummeled by a barrage of political attention and speculation that sharply reduced cattle futures and cash markets. External factors dominated and overwhelmed market fundamentals late in the year. However, the fundamentals remain in place and are expected to regain control in the coming year. The forecast is for higher average feeder and fed cattle prices in 2026 resulting from continued strong supply and demand fundamentals. Volatility is likely to remain high as well, adding to the challenges for the industry to manage cattle production and marketing. 4TH ANNUAL SCOTT ANGUS CATTLE | 20898 N 465 STREET, BELGRADE, NE 68623 | WWW.SCOTTANGUSCATTLE.COM MARLIN SCOTT (308) 550-0202 KELLY SCOTT (308) 550-1726 SAM SCOTT (308) 550-1738 ABBY ROPERS (308) 550-0850 A.J. ROPERS (308) 215-0172 1 PM JANUARY 27, 2026 AT THE RANCH 100+ YEARLING ANGUS BULLS • 20+ SELECT FEMALES SIRES INCLUDE: LT CLARION, M DIAMOND RANAHAN, SCHIEFELBEIN EXECUTIVE, S ARMSTRONG, LT FIRESTEEL, ELLINGSON BADLANDS, MUSGRAVE MILESTONE, STELLPFLUG HOFFMAN RISEABOVE, AND MORE! CALL ANYTIME TO VIEW THE SALE LOTS PRIOR TO SALE DAY – LODGING AVAILABLE! Content Comfortable Cattle. SAC EXCEL 5413 SALE HOSTED BY WWW.DVAUCTION.COM CALL ABBY OR EMAIL TO REQUEST A SALE BOOK! RANCHOFFICE@SCOTTANGUSCATTLE.COM AUCTIONEER | MATT LOWERY 308-750-6119 Outlook by Sector Market prices are focused on providing incentives for herd rebuilding. Cow-calf producers control supply for the entire industry, and record cowcalf returns are strong market signals for heifer retention. It has been very slow thus far, and strong returns are expected to continue in 2026 and likely beyond. Beyond the cow-calf level, the industry consists of margin operations where the buy-sell spread is more important than absolute price level. The margins are more challenging because the input side is increasing faster than the output side most of the time. For example, stocker/backgrounding values of gain are much less attractive compared to calf values. Forage has the most value for calf production with less incentive for stocker-based forage gains. Feedlots have fared reasonably well as cattle prices have risen, with the up-trending market and extended days on feed providing a better “buy now – sell later” margin. Decreasing feedlot cost of gain has also helped feedlots maintain better profitability. Going forward, the ever-tighter feeder cattle supply and high feeder prices will reduce feedlot inventories and returns. Increased heifer retention at some point will squeeze feeder supplies to the tightest level. Beef packers have born most of the brunt thus far with extended and continuing losses that will continue and worsen. Tyson’s late November announcement that it will close the Lexington plant and reduce operations at the Amarillo, Texas, plant reflects the ongoing operational challenges of beef packers. Beef retailers will likely see margins squeezed more going forward as the ability to pass on higher wholesale beef costs is limited. ~NC~ CATTLE AND BEEF MARKET FUTURE PROSPECTS CONTINUED FROM PAGE 25 To view the most current online issue of the Nebraska Cattleman magazine, scan the QR code or visit: https://www.nebraskacattlemen.org/ nebraska-cattleman-magazine
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