A 3x3 factorial experiment was carried out to assess the performance of Boran breed (BRN), Iringa Red (IRR) and Singida White (SWT) strains of cattle fed on three different diets (D1, D2, and D3) under a feedlot condition. The diets contained hominy feed plus molasses (D1 or control), molasses and cassava meal (D2) and rice polishing (D3) as main energy sources. In addition, they contained sunflower seed cake as protein source, minerals and vitamins premix. Fifty-four (54) bulls of equal numbers of each strain, aged between 2 and 2.5 years and average initial weight of 194 ± 12.6 kg were randomly allocated in the three diets and housed in a feedlot structure. They were fed individually with their respective dietary treatments for 80 days, during which data on feed intake and growth performance were recorded. Thereafter 45 bulls with equal number of strains were slaughtered, and carcass characteristics were assessed and gross margins computed. The CP contents (g/kg) in the diets were highest in D2 (155), followed by D1 (141.7) and lowest (130) in D3. There were no significant (P>0.05) interaction effect of diet and breed/strain in all the parameters assessed on performance. Bulls fed on D2 grew faster (0.99 kg/d) and attained greater final weight (269.9 kg) and heavier carcasses (140.8 kg) followed by those fed on D1 with mean values of (0.92 kg/d), (258.1 kg) and (131.5 kg), respectively. The average dressing percentage followed a similar trend, being higher (P<0.05) in bulls fed on D2 (52.4) compared to those on D1 (51.7) and D3 (51.1). The BRN bulls had faster growth rates (1.04 kg/d) followed by the IRR (0.83 g/d), which had similar (P>0.05) average daily gain to that of SWT (0.83 g/d). The final weight of BRN bulls (267.4 kg) was not different (P>0.05) from that of IRR (257.5 kg), which was also found to be similar (P>0.05) to that of SWT (251.2 kg). The hot carcass weights followed similar trend, BRN having carcass weight (138.2 kg) similar (P>0.05) to IRR (130.4 kg), which happened to be not different (P>0.05) from that of SWT (129.3 kg). The mean dressing percentage was higher (P<0.05) for BRN (52.2) than other strains. It is concluded that value of weight gains and slaughter characteristics of Iringa red are comparable to those of Boran, thus for feedlot finishing farmers should be advised to select and use Iringa red bulls to obtain high carcass and large profit.