Producers should expect gradual price improvements in the coming year, while also preparing for seasonal volatility and the possibility that global events may quickly alter fuel availability and costs.

For Idaho dairies, 2025 brought pressures from both outside and inside the operation. Policy uncertainty, trade friction and shifting dairy processor expectations shaped the scenario, but the most lasting effects may come from decisions made in barns, feed centers and breeding programs.

The story of agricultural markets today is very similar to A Tale of Two Cities or, if you are willing to forgive the campiness, "a tale of two farm economies."

Tyler Cozzens, agricultural economist with the Livestock Marketing Information Center, shared an update on the global beef market, and Troy Applehans, a senior market analyst with CattleFax, also discussed the current state of the cattle markets and gave an outlook for 2026 at the 2025 Range Beef Cow Symposium held in Cheyenne, Wyoming.

A hundred head of recently weaned calves wandered the downtown streets of Boise, Idaho, on the first cold morning of October. Steam rolled off their backs, a mass of tipped-over trash cans behind them. A tightly packed alley of wandering souls staring blankly into a haze of flashlights and headlights. A cacophony of chaos filled with the rumble of lowing calves rising into the crisp morning air.

Crop prices are volatile, and for many producers, the market price at harvest in 2025 was below their cost of production. While no one has a crystal ball, a producer with a basic marketing plan can take steps to mitigate their price risk and increase their chances of long-term profitability.

Whether the market is as strong as it has been recently or in a slump, the health and growth of calves are critical to long-term success. Producers need to adapt their strategies to ensure they maintain profitability as best possible.