Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   
   
   

Beef Buzz News


Export Market Becoming More Important for US Beef Industry, But Let's Not Forget Domestic Demand

Thu, 19 Oct 2017 12:25:25 CDT

Export Market Becoming More Important for US Beef Industry, But Let's Not Forget Domestic Demand Thus far in 2017, US beef exports have performed remarkably well. While that aspect of the business is absolutely crucial to the industry, domestic demand is also very important and can’t be forgotten. Radio Oklahoma Ag Network Farm Director Ron Hays caught up with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel to find out where we stand in regards to domestic beef demand right now, and what value it brings to the table for producers.


“We look at retail prices and they’ve held up very well relative to the other meats,” Peel said. “Overall, retail prices are holding up very close to year-ago levels - and this is in the face of a 4.5 percent increase in beef production.”


All in all, when you combine this year’s export strength with the current domestic situation, Peel says beef demand is quite robust. Unfortunately, when things get too good, people start to wonder how long it will be until the situation reverses in the opposite direction. In Peel’s mind, the industry is still coming off of some abnormal years, and a trend being noted across all major meat sectors, is a growth in production. And as most people are holding their breath expecting some challenges to arise, Peel says 2017 has really proven that beef demand can go a long way in partially, even mostly offsetting increased supply pressure that is currently being seen in the industry. At this point he sees no real reason to think this situation won’t continue into 2018. He supports this notion with his predictions for the upcoming Cattle on Feed report due out on Friday from the USDA - with the disclaimer that there is always room for surprises.


“I think in general we’re looking for kind of a continuation of what we’ve seen,” he said. “I think there will be significant placements. We know there’s more cattle out there and that’s not really a surprise. But, given the strength we’ve seen in these feeder cattle markets in the last few weeks - certainly it is consistent with the idea that feedlots have continued to aggressively place cattle. That is what has helped us for so many months now.”


Listen to Peel and Hays discuss the importance of domestic beef demand and its value to producers, as well as Peel’s predictions for the upcoming Cattle on Feed report, on today’s Beef Buzz.


The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is 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.




   




   

Listen to Peel and Hays discuss the importance of domestic beef demand and its value to producers
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 

Beef News

  • Although Less Aggressive Compared to Last, 2018 Shaping Up Another Impressive Marketing Year  Mon, 18 Jun 2018 10:29:31 CDT
  • Beef Exports Continue to Impress with Another Record Setting Month, Despite All the Political Noise  Fri, 15 Jun 2018 11:59:33 CDT
  • NCBA Gives Senate Farm Bill a Thumbs Up Hopeful for Speedy Process of Approval Moving Forward  Thu, 14 Jun 2018 11:54:39 CDT
  • Dr. Glynn Tonsor of Kansas State Says the Rising Tide of Red Ink in Feedlots is Becoming Significant  Wed, 13 Jun 2018 10:11:53 CDT
  • Despite Consumers Growing Concern with Production Practices - Taste, Price, Convenience Still King  Tue, 12 Jun 2018 10:08:39 CDT
  • Putting the Smack-Down on Flies - Gregg Hanzlicek on Industry's Billion Dollar Problem of Fly Control  Mon, 11 Jun 2018 10:07:00 CDT
  • LMIC's Jim Robb Says Current Rate of Cow Slaughter Could Translate into More Optimism for Future  Fri, 08 Jun 2018 10:56:03 CDT
  • Strong Demand Still Driving US Beef Market, Though Mexico's Tariff Retaliations Could Put a Pin in It  Thu, 07 Jun 2018 12:07:56 CDT
  • Strong Demand Still Driving US Beef Market, Though Mexico's Tariff Retaliations Could Put a Pin in It  Thu, 07 Jun 2018 12:00:22 CDT
  • US Roundtable for Sustainable Beef's Metric System Put to the Test - Noble's Chad Ellis Explains  Wed, 06 Jun 2018 11:53:58 CDT
  • As Selection Tools Become More Sophisticated, Ranchers are Growing More Confident in Decisions  Tue, 05 Jun 2018 09:30:44 CDT
  • The Brains Behind Renowned RA Brown Ranch, Donnell Brown, Shares His Three Tips for Success  Mon, 04 Jun 2018 09:52:36 CDT
  • USRSB Chairwoman Says Consumer Worry Gives Industry Chance to Better Connect with Consumers  Fri, 01 Jun 2018 09:25:22 CDT
  • US Roundtable for Sustainable Beef Releases First-Ever National Framework for Beef Sustainability  Thu, 31 May 2018 14:17:11 CDT
  • As Summer Doldrums Loom, Producers Encouraged to Stay the Course for Fourth Quarter Rebound  Wed, 30 May 2018 10:24:27 CDT
  • No Big Surprises in Latest USDA Cattle on Feed Report, LMIC's Jim Robb Offers His Positive Analysis  Tue, 29 May 2018 10:00:41 CDT
  • What's Consumers' "Beef" with Beef? Consumer Panel Reveals Concerning Issues of Misinformation  Fri, 25 May 2018 09:29:22 CDT
  • Oklahoma Beef Industry Leader Weston Givens Offers His Takeaways from Recent Consumer Panel  Thu, 24 May 2018 11:04:29 CDT
  • As Australia Comes Back Online, the Need for a Permanent Trade Deal with Japan Becoming Critical  Wed, 23 May 2018 11:40:49 CDT
  • US-China Trade Tensions Seem to Ease Some Amid Stalled Threats of Tariff Retaliation, Trade War  Tue, 22 May 2018 10:29:46 CDT
  • Price of Beef Cows Falls to Historic Lows as Herd Expansion Starts to Plateau, So Says Randy Blach  Mon, 21 May 2018 10:04:24 CDT
  • Action Alert by NCBA- Call Your House Member and Urge a No Vote on Brat Blumenauer Amendment to 2018 Farm Bill  Fri, 18 May 2018 05:54:40 CDT
  • Are Your Cattle Getting Enough Water? Extension Specialist Justin Wagoner Shares His Summer Tips  Thu, 17 May 2018 11:30:32 CDT
  • While this Year's Beef Business Falls a Bit Short Compared to '17, It's Setting Us Up for a Strong 2019  Wed, 16 May 2018 11:50:00 CDT
  • Price of Hay Surges as US Livestock Industry Grapples with Tightest Hay Stock Supply Since 2013  Tue, 15 May 2018 11:23:07 CDT
  • NCBA Calls on USDA to Assert Jurisdiction Over 'Fake Meat' Regulation to Ensure Market Fairness  Mon, 14 May 2018 11:20:06 CDT
  • New Zoetis Implant, Synovex, Puts More Weight on Your Cattle and Less on Your Shoulders  Fri, 11 May 2018 14:23:31 CDT
  • OKC West Livestock Sale Raises $59,000 for Oklahoma Cattlemen's Foundation Wildfire Relief Fund  Thu, 10 May 2018 09:57:33 CDT
  • Persistent Drought Tightening Its Grip on Beef Cattle Producers Across the Southern Great Plains  Wed, 09 May 2018 10:29:58 CDT
  • As Smoke Clears, Derrell Peel Calculates $26.4M in Wildfire Damage to NW OK Cattle Operations  Tue, 08 May 2018 10:46:35 CDT
  • USRSB Chairwoman Says Consumer Worry Gives Industry Chance to Better Connect with Consumers  Mon, 07 May 2018 10:16:26 CDT
  • USRSB Chairwoman Says Consumer Worry Gives Industry Chance to Better Connect with Consumers  Mon, 07 May 2018 10:15:21 CDT
  • US Roundtable for Sustainable Beef Releases First-Ever National Framework for Beef Sustainability  Fri, 04 May 2018 10:02:34 CDT
  • NCBA's Jennifer Houston Says USRSB Consumer Insights Pinpoint Key Issues Industry Must Address  Thu, 03 May 2018 10:35:30 CDT
  • As Selection Tools Become More Sophisticated, Ranchers are Growing More Confident in Decisions  Wed, 02 May 2018 10:10:35 CDT

  •  

    Beef Buzz Archives

    Old Archives  |   2010  |   2011  |   2012  |   2013  |   2014  |   2015  |   2016  |   2017  |   Jan 18  |   Feb 18  |   Mar 18  |   Apr 18  |   May 18  |   Jun 18  |   Jul 18  |   Aug 18  |   Sep 18  |   Oct 18  |   Nov 18  |   Dec 18
       

    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association Oklahoma City Farm Show

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

       
       
    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.