Livestock Industry Snapshot

• USDA forecasts continued price increases for choice steers with 2024 average prices at $183.00/cwt.  Cattle and beef prices are likely to remain elevated for at least another 18-24 months due to low herd sizes. 

• Broiler prices are forecast relatively flat at $1.27 in 2024. Eggs averaged $1.92/doz for 2023, a decrease of nearly $1 from 2022’s average price of $2.82. Egg prices are forecast to continue to decline to $1.80 in 2024, depending on what happens with Avian Influenza.¹  

• Strong demand continues to support high prices for meats, but supply will limit volume and elevated input costs will limit producer profits.

¹ USDA WASDE