The cattle and beef market momentum at the end of 2022 has carried over into the first week of the new year. The new year looks to contrast with last year with noticeably tighter cattle numbers, especially at the feedlot level, driven by previous herd liquidation and sharply lower feeder cattle supplies.
The price of 500-pound, M/L, No. 1 steers at Oklahoma auctions averaged $227.50/cwt. the first week of 2023, up 19.3 percent year over year. The price of 800-pound steers averaged $180.97/cwt., up 14.7 percent over the beginning of 2022. The Feeder Cattle futures market anticipates…
