August 2, 2022

Ag Economy

Livestock Industry Snapshot

  • USDA forecasts rising prices for choice steers with 2022 average prices forecast at $141.30/cwt. and 2023 prices forecast at $153/cwt. 
  • Likewise, broiler prices are forecast to rise significantly at $1.529/lb. in 2022, but declining to $1.490 in 2023. Eggs are forecast at $2.106/doz for 2022, an increase of nearly $1 over 2021’s average price of $1.185.1  
  • Strong demand continues to support high prices for animal proteins, but supply will limit volume and rising feed and other input costs will limit producer profits. 

1 USDA WASDE

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