2023 began with much optimism for cattle market prices and the first few months have lived up to expectations. Cattle prices have rallied sharply since the first of the year. Prices for 500-600 pound steers are 10 to 15 percent higher in Mississippi, Arkansas, and Kentucky than they were during the first week of January. In the Southern Plains (graph below), five-weight steers averaged close to $240 per CWT last week. Compared to a year ago, calf and feeder cattle prices are up 15 to 25 percent. These are prices not seen since 2014-2015.
