Beef Buzz News
OSU's Derrell Peel Says Cattle Markets in the First Half of 2018 Have Been "So Far, So Good..."
Thu, 21 Jun 2018 17:03:19 CDT
In these final days of June, Radio Oklahoma Ag Network Farm Director Ron Hays caught up with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel to talk about how beef and cattle markets have measured up so far this year in 2018.
Listen to Peel and Hays discuss the performance of the US beef markets during the first half of 2018
“I think 2018 has been largely a ‘so far, so good’ kind of situation compared to 2017. Supply continues to grow. We’re going to have more beef production in 2018, but demand has been pretty good,” he said. “So, all in all, I think markets have held together pretty well - whether you’re talking beef markets or feeder and fed cattle markets.”
One issue that has Peel concerned going forward, however, pertains to carcass weights. In 2017, carcass weights dropped for the year, offsetting some of the large production that was seen. This year, weight are going back up relative to that 2017 level - which means we’re going to have even more production in terms of carcass weights and slaughter. Fortunately, though, Peel says demand has maintained impressive strength and has kept markets afloat so far.
As producers look to the second half of the year, Peel says other issues of concern like rising tensions among our trading partners will be closely monitored as the beef industry could be affected either directly, indirectly or both for that matter.
Listen to Peel and Hays discuss the performance of the US beef markets during the first half of this year, on today’s Beef Buzz.
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