by George Jared (gjared@talkbusiness.net)
Cattle producers have had several turbulent years with low prices and higher input costs that were fueled largely by drought conditions. Cattle farmers that were able to maintain their herds benefitted in 2023 when prices jumped.
Throughout most of the year, both futures and cash markets for steers, calves and more marked a vast improvement over 2022. By the last week of November, prices for medium and large number one steer calves (weighing 500 to 600 pounds) were above $270 per hundredweight, more than $80 per hundredweight higher than the same time in 2022 and more than $100 higher than the average from 2017-2021.
James Mitchell, assistant professor and extension economist in the Department of Agricultural Economics and Agribusiness at the University of Arkansas System Division of Agriculture, said that the benefits of high prices largely fell to those with access to good grazing and forage.
