Across the country 500-600 pound steer prices are soaring well ahead of green-up this year.  The northern plains are still a long way from spring and saw 500-600 pound steers climb to $250 per cwt in Montana, and $242 per cwt in South Dakota. West of the Northern plains, Washington prices have been more volatile and last week came down from $260 per cwt to $225 per cwt. Nebraska, still very much in dry conditions saw auction prices hover around $235 for the last three weeks. Drought has been holding Dodge City, KS prices back.  They have failed to gain traction over $200 per cwt.

Trade data for the month of January was released and beef exports were 242.6 million pounds, down 16% from a year ago while beef imports were up 4% to 365.7 million pounds. January was the third highest beef import on record behind June 2005 (377.6) and July 2020 (376.7). Gains in beef exports to Mexico (+31%) and Japan (+7) from last year, were more than offset by lower shipments to South Korea (-37%), China (-25%), Taiwan (-34%), and Hong Kong (-14%).

The chicken industry came out of 2022 with a production increase of 3%.  Average bird weights at the processing plant were 0.5% heavier than the prior year, so increased slaughter accounted for 2.5% of the increase.  Broiler-type hatch layers at the beginning of 2022 were up 1.5% from a year earlier and hatcheries were challenged by rooster fertility issues during the year, so the increase in slaughter was fairly impressive.  Industry profitability reached unprecedented heights during the first nine months of the year before collapsing after Labor Day.