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CATTLE REPORT last month. The Midwest Cattleman · March 9, 2023 · P20
continued from page 19 In the second quarter, a
reduction in expected mar-
sent the 80th and 99th per- ketings is forecast to more
centiles, respectively, of past than offset an increase in
winters. In the first three cow slaughter. In addition,
weeks of 2023, severe weath- the outlook for lower weights
er lowered steer and heifer was carried over into the
dressed weights by an av- second quarter, further re-
erage 9 and 18 pounds, re- ducing production from last
spectively, below the same month by 90 million pounds.
period last year. Further, cow As a result, an increased cow
and bull dressed weights are slaughter in first-half 2023
down 9 and 29 pounds, re- more than offset the net de-
spectively. crease in expected market-
Based on the January ings and lighter anticipated
Cattle on Feed data, great- weights, which raises the
er-than-expected mar- outlook for 2023 beef produc-
ket-ready supplies of fed tion by 50 million pounds to Cattle report, supplies of cat- the premium to cash for the
cattle on Jan. 1 increased 26.5 billion pounds. tle available for placement February contract, as well
the anticipated pace of mar- Fed cattle prices raised in early 2023 remain tight. as on lower forecast dressed
ketings in first-quarter 2023. on lighter weights These factors support leaving weights for the first half of
However, smaller-than-ex- In January, prices for feed- the forecasts for 2023 feeder the year, fed steer prices are
pected placements in De- er steers 750-800 pounds at steer prices unchanged at raised in the first two quar-
cember lowered the outlook the Oklahoma City Nation- $203 per cwt. ters to $158 and $159 per cwt
for marketings in the sec- al Stockyards recorded a Fed steers in the 5-area for an annual projection of
ond quarter. Further, a fast- weighted average of $178.38 marketing region averaged $159 per cwt in 2023.
er pace of cow slaughter is per hundredweight (cwt), $156.30 per cwt in January
anticipated in the first half. about $20 above January 2023, about $19 above last Export volume and value
As a result, in first-quarter 2022. The feeder steer pric- year. Fed cattle prices have were record high in 2022
2023, total cattle slaughter es reported on Feb. 6 jumped continued steady into the Monthly exports in De-
was raised but was partial- about $14 week over week new year, with reported pric- cember were 266 million
ly offset by lower expected to $187.31 per cwt, almost es for the week ending Feb. pounds, a year-over-year de-
weights, leaving production $27 above the same week 5 at $158.17 per cwt. Based crease of 17%, falling just
up 140 million pounds from last year. As indicated by the on recent price data and below the five-year average
