Beef Buzz News
Tonsor Reviews Latest WASDE Report and Cattle Feeding Returns for Rest of 2015
Tue, 16 Jun 2015 15:01:53 CDT
On a monthly basis, the World Agricultural Outlook board of the U.S. Department of Agriculture releases their World Agricultural Supply and Demand Estimate report, otherwise known as WASDE. The report offers a global outlook for both crops and livestock. Last week, USDA released the latest on beef and livestock production. Kansas State University Extension Livestock Market Economist Dr. Glynn Tonsor sorts out the numbers from the latest WASDE report. He found the 2015 meat production numbers have been revised down from the previous month, but the 2016 numbers were up over last month.
Ron Hays Beef Buzzes with Dr. Glynn Tonsor of K-State
ďIt appears we have more meat coming because the entire livestock space is expanding and the beef industry is part of that,Ē Tonsor said.
In looking at beef production numbers for this year, Tonsor said they were lowered to just over 24 billion pounds. Thatís the result of fewer beef cattle being slaughtered in the second quarter as well as producers expanding their herds. That will decrease the amount of cull cows and bulls that supplement beef production.
In looking at 2016, Tonsor said beef production is expected to increase with the jump in placements in the back half of 2015. He also expects heavier placements with the improved forage conditions.
Tonsor also does extensive work on feedlot break-evens. He said right now feedlots are experiencing a lot of red ink. He looks for profitability to improve by late summer, but more red ink will continue into fall through the start of 2016. He said right now cattle prices suggested by USDA in the WASDE report are consistent with what he has seen. Throughout the rest of the year, USDA is projecting prices ranging from the mid-$150ís to $170 through the fourth quarter of 2015. For the first quarter of 2016, USDA is projecting prices ranging from to $154 to $166. Tonsor said that is very high in comparison to historic prices, but it would take the upper-end of the range to hit the break-even levels for feedlots. Overall, Tonsor believes the prices from USDA are pretty realistic.
Radio Oklahoma Network Farm Director Ron Hays featured Tonsor on the Beef Buzz feature. Click or tap on the LISTEN BAR below to listen to today's Beef Buzz.
This audio was provided by Kansas State University. AGRICULTURE TODAY is a daily program hosted by Eric Atkinson and distributed to radio stations throughout the state.
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