Beef Buzz News
What a Difference a Year Makes: Economist Derrell Peel Watches Beef Demand Carefully
Thu, 25 Apr 2013 16:27:56 CDT
Pastures are getting better in the southern plains. Ponds are starting to refill. Oklahoma State University Livestock Market Economist Dr. Derrell Peel says the contrast with last year couldn't be more stark.
"We were ahead of schedule last year, warmer much sooner than usual. This year we are exactly the opposite. We are much later, slow to green up. We are finally getting some moisture that's relieving at least some of our short-term drought concerns, but now we've got to have some warm weather to really capitalize on that.
"I think that's still affecting producers here in terms of getting on with their spring plans. I don't think we're seeing the demand for stocker cattle that we will see when the weather warms up. Certainly, as you go north of here, we've still got winter conditions in many cases. Recent big snows continuing that have extended feed demands for a lot of producers. In fact, we've seen increased beef cow slaughter the last two or three weeks over last year's levels. We would expect to be down from last year and significantly down from last year if, in fact, we weren't liquidating. And I think we are seeing some short-term liquidation here simply because some of these producers have run out of resources before they ran out of winter."
Peel said economists will be carefully watching the beef cow slaughter numbers after the weather improves to see how much it drops back down to begin to tell if the herd is stabilizing or continuing to fall.
Winter weather is having an effect on consumers and their demand for beef. The late grilling season is weighing significantly on demand, Peel said. He said economists will be watching very closely over the next few weeks to see if demand will go up as the weather improves.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
Derrell Peel looks at beef demand for signs of market improvement.
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