# As drought tightened cattle production, 2023 markets soared  - High Plains Journal

> Cattle prices reached decade highs in 2023 as prolonged drought across the Plains and Southeast reduced herd sizes. Steer calf prices in late November exceeded $270 per hundredweight, well above 2022 levels.

- Date: 2024-01-01 · published 2024-01-01T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/32247-as-drought-tightened-cattle-production-2023-markets-soared-high-plains-journal
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Tight cattle supply from drought-driven herd liquidation supports cattle prices into 2024, which shapes feedlot placements and feed demand.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2018-02-12 | [Drought relief expected to help grain and cattle outlook - High Plains Journal](https://feedsoft.ai/events/66423-drought-relief-expected-to-help-grain-and-cattle-outlook-high-plains-journal.md) | +1.5% | -1.0% |
| LCATTLE | 2022-05-13 | [Cattle industry takes center stage in May - High Plains Journal](https://feedsoft.ai/events/41545-cattle-industry-takes-center-stage-in-may-high-plains-journal.md) | -0.4% | +0.1% |
| LCATTLE | 2022-11-02 | [Terrain \| Drought-forced Cattle Movement Expected to Impact Markets into 2023](https://feedsoft.ai/events/7228-terrain-drought-forced-cattle-movement-expected-to-impact-markets-into-2023.md) | +0.4% | +1.7% |
| LCATTLE | 2022-06-24 | [Drought conditions pull cattle forward in 2022; limited cattle supplies draw down 2023 production - Progressive Cattle \| Ag Proud](https://feedsoft.ai/events/41082-drought-conditions-pull-cattle-forward-in-2022-limited-cattle-supplies-draw.md) | +1.3% | -0.4% |
| LCATTLE | 2022-07-28 | [Fewer cattle expected as cow herds shrink due to drought \| The Western Producer](https://feedsoft.ai/events/40618-fewer-cattle-expected-as-cow-herds-shrink-due-to-drought-the-western-producer.md) | -0.1% | +3.7% |
| FCATTLE | 2018-02-12 | [Drought relief expected to help grain and cattle outlook - High Plains Journal](https://feedsoft.ai/events/66423-drought-relief-expected-to-help-grain-and-cattle-outlook-high-plains-journal.md) | +2.4% | -2.8% |
| FCATTLE | 2022-05-13 | [Cattle industry takes center stage in May - High Plains Journal](https://feedsoft.ai/events/41545-cattle-industry-takes-center-stage-in-may-high-plains-journal.md) | -1.8% | +11.2% |
| FCATTLE | 2022-08-09 | [Coping with high feed prices, drought in 2022
						 \| The Cattle Site](https://feedsoft.ai/events/40182-coping-with-high-feed-prices-drought-in-2022-the-cattle-site.md) | -0.7% | +1.6% |

## Sources

- hpj.com: https://hpj.com/2024/01/01/as-drought-tightened-cattle-production-2023-markets-soared/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.