2025年11月,牛市价格暴涨5.76.5%,尽管出口和零售收益小,但牛肉成本上升,加工商利润减少。 Cattle prices jumped 5.7%–6.5% in November 2025, raising beef costs and squeezing processor margins despite small export and retail gains.

2025年11月,牛市价格暴涨,重型牛、幼牛和加工牛上涨5.7%至6.5%,采购成本上升,牛肉加工边际压力加大。 Cattle prices surged in November 2025, with heavy steers, young cattle, and processor cows rising 5.7% to 6.5%, increasing procurement costs and pressuring beef processor margins. 尽管出口增长不大——美国为2.2%,日本为7%——南韩和中国的出口下降将总出口回报限制在0.8%的增长。 Despite modest export gains—2.2% in the U.S., 7% in Japan—declines in South Korea and China limited overall export returns to a 0.8% rise. 国内零售牛肉价格上涨1.3%,但不足以抵消更高的投入成本。 Domestic retail beef prices rose 1.3%, but not enough to offset higher input costs. 粮食生产的生产者投入成本略有下降,但公用事业成本的上涨抵消了收益。 Producer input costs in food manufacturing fell slightly, though rising utilities costs offset gains. BPTC指数从59%降至每年的54%,表明处理器的压力越来越大,进入2026年。 The BPTC index dropped to 54% year-to-date from 59%, signaling growing margin pressure for processors heading into 2026.