The average price of 500-pound steers in Oklahoma auctions in July was $283.68/cwt., up 48% over the price of $191.48/cwt. one year ago. This represents an increase in value of $461/head from $957/head to $1418/head over the same time last year. Higher calf prices are the market result of continually smaller cow herds and declining feeder cattle supplies.
USDA’s July “Cattle” report showed that cattle inventories are continuing to decrease in 2023. The total inventory of cattle and calves was 95.9 million head, down 6.7% from the recent cyclical peak in 2018, and just fractionally…
