NDSU Forecasts Commodity Prices

NDSU Extension has released its 2023 short-term and long-term planning price projections. Farm Management Specialist Ron Haugen says commodity prices remain positive. “Spring wheat is projected to be about $8 per bushel, corn at $5.25 and soybeans at $12.25 per bushel.” Price projections also include malting barley at $6.50 per bushel, oil sunflowers at $25 per hundredweight, canola at $25 per hundredweight, winter wheat at $7 per bushel, dry beans at $36 per hundredweight and alfalfa hay at $120 per ton. “The 400-500 lb. steers are projected at $235 per hundredweight while the higher weights (800-900 lbs.) are projected at $195 per hundredweight. Cattle prices are based on a lot of things including the cattle cycle and demand.” Cull cows are projected at $90 per hundredweight, slaughter hogs at $68 per hundredweight and 60-90 lbs. feeder lambs at $180 per hundredweight. You can find the full price outlook here.