US Drought Conditions will be an Important Influence in the Timing of 2023 Market Reactions

Drought conditions have wreaked havoc on cattle producers in varying locations and times over the past 2 years.

The current drought conditions are some of the most widespread that we’ve seen over this period with about 80 per cent of the continental U.S. experiencing at least the lowest level of drought (D0).

Source: Beef Magazine, December 2022

As shown in the chart above, nearly 70 per cent of the Southern Plains pasture is in poor or very poor condition.

While there is already much optimism for stronger cattle prices in 2023, drought conditions will be an important influence on the timing of market reactions.

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