The popular CattleFax Outlook Seminar, held as part of the 2023 Cattle Industry Convention and NCBA Trade Show in New Orleans, shared expert market and weather analysis.
Prices and profitability will again favor cattle producers in 2023.
The cattle industry is entering 2023 with the smallest cattle supply since 2015 as drought caused the industry to dig deeper into the supply of feeder cattle and calves.
While the exact path to drought relief is unknown, improvements are also expected to translate to moderating feed costs, especially in the second half of 2023. Combined with increased cattle prices, cattle producers, especially the cow-calf operator, will continue to see an improvement in margins for the next several years, according to CattleFax.
Bryce Doeschot visits with CattleFax CEO Randy Blach.