Feeder cattle prices have increased sharply in 2023. Figure 1 shows the increase in Oklahoma combined auction feeder prices that started in late 2022. In the last four weeks, prices for lightweight calves and stockers under 600 pounds have averaged about 45 percent higher year over year, with heavier feeder cattle prices up slightly less, from 37 to 40 percent over last year.
Cattle prices are trending higher in response to ever tightening cattle and beef supply fundamentals. The beef cow herd on January 1, 2023 was the lowest since 1962 and is still getting smaller. The projected…
