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Oklahoma combined auction prices for March steers show feeder cattle prices rising sharply since 2022. The 475-pound steer price rose 94.6% to $399.55/cwt in 2025, and the 775-pound price rose 85.2% to $284.93/cwt.
The author notes that the price relationship between light and heavy feeder cattle has shifted.
Sustained feeder price gains reflect tight calf and feeder supplies, which raise the cost of feeding cattle. Higher feeder costs also tend to push up demand for lower-cost feed rations.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.