Cow-calf profit per head in Wyoming

Wyoming cow-calf returns in 2024 reflected the strongest calf market in a decade, with 550 lb steer calves trading near $2.60/lb at Torrington and Riverton auctions, producing gross revenue around $1,180 per exposed cow once cull cow sales are blended in, per University of Wyoming Extension budgets.

Wyoming budgets assume an 88-90% weaning percentage, below the US average, because of harsh calving conditions at elevation and predation losses. That loss rate, combined with winter hay needs of roughly 2.5 tons per cow at $180/ton, is the core reason cash costs per cow run near $1,085 in the USDA ERS Basin and Range region series.

The state's cost structure is defined by federal grazing access: roughly half of Wyoming cows spend summers on BLM or Forest Service allotments at AUM rates around $1.35, versus $25+ for private pasture. That subsidy keeps net cash income positive near $95/head, but once unpaid operator labor and capital recovery charges from the ERS accounts are applied, total economic profit remains negative near -$180, consistent with the long-run pattern tracked by the Wyoming Stock Growers Association.