Cattle and beef prices are ex­pected to go up in 2023 compared to last year, CattleFax CEO Randy Blach reported during the organization’s annual outlook at the 2023 Cattle Industry Convention last week in New Orleans.

“We’re moving back into balance again between our available supplies and harvest capacity" after years of beef packers offering lower prices for cattle because supply was so high, Blach said.

“As reduced cattle numbers and beef production continue to unfold, prices and profitability will again favor cattle producers in 2023.”

Blach noted the main driver of the current U.S. cattle herd ...