After a bleak season dealing with drought and other extreme weather events, cattle producers could be seeing new financial opportunities on the horizon. Heifer retention could offer business opportunities for producers in 2023.

With cyclically low cattle inventories due to drought, feedlot placement data shows more heifers going on fed instead of being kept as replacements. Therefore, due to the laws of supply and demand, replacement heifers could soon be fetching a premium. Data from this week’s USDA Oklahoma Weekly Cattle Auction Summary had a total value per head of $777 for 477-pound heifers.

Read more on the revenue opportunity, including a price breakdown incorporating feed costs of heifer retention here.