CattleFax Vice President of Research and Risk Management Services Mike Murphy’s message about feed prices and availability for the coming year was cautiously optimistic. Even as the end appears to be in sight for countless farmers and ranchers who have dealt with historic drought conditions across the country the past couple years, the economic effects of that drought remain.

Over the next few years as the cattle herd builds back, cull cow prices and all beef prices will rise as the U.S. cycles into tighter supplies, giving more market leverage to the producer.

Profitability for cattle producers – especially the cow-calf operator – is expected to improve to levels the industry hasn’t seen since 2013-15, according to CattleFax CEO Randy Blach.

The three-year lament appears to be ending as readings in the Pacific Ocean portend warming waters in 2023. El Nino weather patterns, when warming Pacific waters create moisture in much of the West and Midwest states, have been missing since 2019. La Nina, the uglier twin sibling of El Nino, where colder ocean temperatures lead to warmer and less water, has hung around since then worsened the Western drought.

On Jan. 24, the National Cattlemen’s Beef Association (NCBA) announced it filed notice of intent to sue the Department of the Interior and the U.S. Fish and Wildlife Service (FWS) over the listing of the lesser prairie chicken under the Endangered Species Act.