May 3, 2023
Livestock Industry Snapshot
- USDA forecasts rising prices for choice steers with 2022 average prices at $144.40/cwt. and 2023 prices forecast at $162/cwt.
- Likewise, broiler prices are estimated to have risen significantly at $1.41/lb. in 2022, but forecast to decline to $1.27 in 2023. Eggs are estimated at $2.82 oz for 2022, an increase of more than $1 over 2021’s average price of $1.19. Egg prices are forecast to decline to $2.12 in 2023, remaining elevated due to the impact of Avian Influenza.1
- Strong demand continues to support high prices for animal proteins, but supply will limit volume and rising feed, hay and other input costs will limit producer profits.
- Strong demand continues for local and value-added meats and poultry, but some producers report limited availability of slaughter and processing capacity.
1 USDA WASDE
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