CattleFax Projects Prices Will Favor Producers In 2023 CattleFax analysts told those in attendance this week during their market outlook session at the Cattle Industry Convention in New Orleans that prices and profitability will favor cattle producers in 2023. Kevin Good, vice president of industry relations and analysis for the organization, said the average for fed steer prices is projected to be $158/cwt., up $13 from 2022. The 800 lb. steer price is expected to average $195/cwt., with 550 lb. steers anticipated to average $225/cwt.
Feeder cattle and calf supplies outside of feedyards are projected to be 400,000 to 450,000 head smaller than 2022 at 25.1 million. After being full for most of the past three years, analysts said cattle on feed inventories are expected to be 300,000 to 400,000 head below last year at 14.3 million head and remain smaller. Commercial fed slaughter is forecast to decline by 750,000 to 800,000 to total 25.6 million head. With drought-forced placement and culling, beef production was record large in 2022 at 28.3 billion pounds.
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