# Steer prices hit record high in April 2023 | Economic Research Service

> USDA's Economic Research Service reports that steer prices at the five-area marketing region set a record of $180.44 per cwt for the week ending April 16, 2023, surpassing the November 2014 high. April averages exceeded $177 per cwt, more than $35 above April 2022. Tight cattle inventories and record wholesale beef prices drove the seasonal climb.

- Date: 2023-05-31 · published 2023-05-31T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35878-steer-prices-hit-record-high-in-april-2023-economic-research-service
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

A shrinking national herd and record beef prices keep fed cattle values elevated, which supports feeder cattle and live cattle prices and raises feed demand for finishing rations.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2022-07-18 | [Livestock, Dairy, and Poultry Outlook: July 2022 \| Economic Research Service](https://feedsoft.ai/events/40433-livestock-dairy-and-poultry-outlook-july-2022-economic-research-service.md) | +0.1% | +0.7% |
| LCATTLE | 2023-05-11 | [Fed, feeder cattle prices in record-high range - Canadian Cattlemen](https://feedsoft.ai/events/35881-fed-feeder-cattle-prices-in-record-high-range-canadian-cattlemen.md) | +0.6% | +7.2% |
| LCATTLE | 2025-03-17 | [Livestock Production Cycles Affect Long-Term Price Outlook for Cattle, Hogs, and Chickens \| Economic Research Service](https://feedsoft.ai/events/25713-livestock-production-cycles-affect-long-term-price-outlook-for-cattle-hogs-and.md) | +2.2% | +2.5% |
| LCATTLE | 2026-06-10 | [Beef Prices Hit Record in May on Screwworm Impact - TT](https://feedsoft.ai/events/18765-beef-prices-hit-record-in-may-on-screwworm-impact-tt.md) | +1.4% | -2.9% |
| LCATTLE | 2023-02-02 | [2023 Could Bring Record Cattle Prices, CattleFax Experts Say](https://feedsoft.ai/events/10217-2023-could-bring-record-cattle-prices-cattlefax-experts-say.md) | +1.7% | +4.8% |
| FCATTLE | 2023-05-11 | [Fed, feeder cattle prices in record-high range - Canadian Cattlemen](https://feedsoft.ai/events/35881-fed-feeder-cattle-prices-in-record-high-range-canadian-cattlemen.md) | -0.4% | +16.2% |
| FCATTLE | 2025-03-17 | [Livestock Production Cycles Affect Long-Term Price Outlook for Cattle, Hogs, and Chickens \| Economic Research Service](https://feedsoft.ai/events/25713-livestock-production-cycles-affect-long-term-price-outlook-for-cattle-hogs-and.md) | +1.6% | +1.1% |
| FCATTLE | 2026-06-10 | [Beef Prices Hit Record in May on Screwworm Impact - TT](https://feedsoft.ai/events/18765-beef-prices-hit-record-in-may-on-screwworm-impact-tt.md) | +3.6% | +0.6% |

## Sources

- ers.usda.gov: http://www.ers.usda.gov/data-products/charts-of-note/106606

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