# 2023 Cattle futures strong, can producers hang on?

> CME Group forecasts feeder cattle futures could climb above $200 by autumn 2023, which would be the highest since September 2015. Widespread drought has forced early culling and is shrinking the herd, and USDA has lowered its 2023 red meat supply forecast. Analysts expect tighter cattle and beef supplies next year.

- Date: 2022-11-15 · published 2022-11-15T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/7180-2023-cattle-futures-strong-can-producers-hang-on
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

A shrinking herd and lower red meat supply from drought point to higher cattle and beef prices, which raises costs for feeder and fed cattle buyers.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2025-02-06 | [CattleFax Forecasts Continued Strong Demand and High Price Outlook for Cattle Producers](https://feedsoft.ai/events/26180-cattlefax-forecasts-continued-strong-demand-and-high-price-outlook-for-cattle.md) | -1.7% | -4.6% |
| LCATTLE | 2021-03-02 | [Signs of market improvement for cattle producers](https://feedsoft.ai/events/7330-signs-of-market-improvement-for-cattle-producers.md) | -0.0% | +1.5% |
| LCATTLE | 2023-08-27 | [Live cattle gain as heat impacts producers - CME
						 \| The Beef Site](https://feedsoft.ai/events/34714-live-cattle-gain-as-heat-impacts-producers-cme-the-beef-site.md) | -0.8% | +1.5% |
| LCATTLE | 2024-01-01 | [As drought tightened cattle production, 2023 markets soared  - High Plains Journal](https://feedsoft.ai/events/32247-as-drought-tightened-cattle-production-2023-markets-soared-high-plains-journal.md) | -0.4% | +2.3% |
| LCATTLE | 2026-08-04 | [Grains Fall on Profit Taking, Weather, Money Flow: Cattle See Strong Chart Action - AgWeb](https://feedsoft.ai/events/12808-grains-fall-on-profit-taking-weather-money-flow-cattle-see-strong-chart-action.md) | +0.9% | -5.2% |
| FCATTLE | 2025-02-06 | [CattleFax Forecasts Continued Strong Demand and High Price Outlook for Cattle Producers](https://feedsoft.ai/events/26180-cattlefax-forecasts-continued-strong-demand-and-high-price-outlook-for-cattle.md) | -2.1% | +1.2% |
| FCATTLE | 2021-03-02 | [Signs of market improvement for cattle producers](https://feedsoft.ai/events/7330-signs-of-market-improvement-for-cattle-producers.md) | -1.3% | +7.2% |
| FCATTLE | 2025-01-01 | [Feeder cattle market: Prices ending 2024 on higher note](https://feedsoft.ai/events/27086-feeder-cattle-market-prices-ending-2024-on-higher-note.md) | +1.0% | +7.2% |

## Sources

- farmprogress.com: https://www.farmprogress.com/forage/2023-cattle-futures-strong-can-producers-hang-on-

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