Drought conditions have wrecked havoc on cattle producers in varying locations and times over the past 2 years. The current drought conditions are some of the most widespread that we’ve seen over this period with about 80 percent of the continental U.S. experiencing at least the lowest level of drought (D0). As shown in the chart below, nearly 70 percent of the Southern Plains pasture is in poor or very poor condition. While there is already much optimism for stronger cattle prices in 2023, drought conditions will be an important influence in the timing of market reactions.
