# Cow-calf profit per head in Oklahoma

> Oklahoma cow-calf operators averaged roughly $165 in net cash income per cow in 2024, though total economic profit after unpaid labor and capital charges remained near breakeven despite strong calf prices.

**Headline:** $165 net cash income per cow

## Key Figures

| Metric | Value |
| --- | --- |
| Gross revenue per cow | $1,185 |
| Cash costs per cow | $1,020 |
| Non-cash costs (labor, depreciation, capital) | $310 |
| Net cash income per cow | $165 |
| Total economic profit per cow | -$145 |

## Detail

Oklahoma is the second largest beef cow state in the US with about 2.1 million beef cows, and USDA ERS classifies it inside the Southern Plains cow-calf region where 2024 gross value of production averaged near $1,185 per cow on the back of 500-550 lb feeder calves trading above $2.60 per pound for much of the year.

OSU Extension's 2024 spring-calving enterprise budget assumes an 87 percent weaned calf crop, 540 lb average weaning weight, and a 15 percent replacement rate, which together generate the revenue line above and leave roughly $165 per cow in net cash income after $1,020 of cash operating costs dominated by hay, purchased feed, and pasture lease.

The reason headline cash profit does not translate into positive economic profit is Oklahoma's cost structure: ERS Southern Plains data shows unpaid labor, depreciation on bulls and equipment, and capital recovery charges add about $310 per cow, so the total economic return sits near negative $145 per cow even in a strong price year, meaning operations only truly profit once owned land appreciation and tax treatment are layered in.

## Frequently Asked Questions

### Why is Oklahoma a top cow-calf state?

Oklahoma ranks second nationally in beef cow inventory with roughly 2.1 million head, driven by abundant native and improved pasture, a mild winter that reduces hay feeding days, and proximity to the Texas Panhandle feedlot complex.

### What weaning percentage should Oklahoma ranchers assume?

OSU Extension cow-calf budgets assume an 85 to 88 percent weaned calf crop, with weaning weights of 525 to 550 lb for steers under typical Southern Plains forage conditions.

### How do drought and hay costs affect OK profit?

Hay and purchased feed are the single largest variable cost in Oklahoma budgets; a drought year like 2022 pushed feed costs above $400 per cow and erased margins even before calf prices recovered.

## Sources

1. USDA ERS Commodity Costs and Returns, Cow-Calf Southern Plains region (2024) — https://www.ers.usda.gov/data-products/commodity-costs-and-returns/
2. Oklahoma State University Extension, Enterprise Budget Beef Cow-Calf Spring Calving (2024) — https://extension.okstate.edu/programs/farm-management/enterprise-budgets.html
3. Oklahoma Cattlemen's Association, Industry Statistics (2024) — https://www.okcattlemen.org/

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Source: Vellum — https://vellum.app/cow-calf-profit-per-head/oklahoma