Beef Buzz News
Slow Corn Planting Caused by Recent Rains Dampen Spirits in Cattle Industry, Derrell Peel Explains
Thu, 09 May 2019 10:42:11 CDT
Weather is on the mind of a lot of people this spring, especially beef producers as well as their counterparts in the grain industry, who have suffered one extreme weather event after another since the start of the year it seems. Radio Oklahoma Ag Network Farm Director Ron Hays was joined by Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel recently to talk about the weather and how it might impact the beef market. The big concern right now is the large amount of moisture that has accumulated not only in our neck of the woods but across the Corn Belt where the hope is that farmers will have enough time to plant a big corn crop to keep feed costs down for our beef producers.
Listen to Peel's full analysis of the current beef market and how recent weather has factored in below.
“In Oklahoma, obviously we have had a lot of rain. We’ve got a lot of wet, sloppy conditions that are a management headache for producers,” Peel said remarking on the grazing and haying challenges the weather has instigated. “But then in a little broader context, for cattle markets, feedlots around the country are really dealing with a lot of wet, sloppy conditions that are probably impacting performance.”
The final consideration that Peel points out, is that the US corn crop is well-behind its planting schedule. The latest USDA Crop Progress report pegged the crop at just 23 percent planted, half its normal rate for this time of year. Peel says that if farmers go another 10 to 14 days without making any significant progress in planting, we could see some weather markets start to impact corn prices. As a result, livestock producers might be compelled to adjust their feed purchases and bring more attention to the crop market than usual.
According to Peel, cattle markets overall have followed a fairly seasonal pattern in spite of the bad weather, with feeder and fed cattle prices moving up to a peak in the first quarter of 2019. Fed prices have since dropped sharply in the last several days on the backside of that seasonal peak. Feeder cattle prices are softening too, though Peel expects they will continue to grind on to an eventual peak later this summer. Beef demand has continued to perform well, domestically in particular. Boxed beef prices peaked in April, reflecting a lot of early buying in preparation for the summer grilling season. These prices have also started to drop off signaling that market’s peak as well as some mounting seasonal supply pressure that has begun to weigh on the market currently.
Listen to Peel’s full analysis of the current beef market and how recent weather has factored into its performance, 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.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Repeal of WOTUS Strikes Emotional Chord with OCA's Michael Kelsey, Reflecting on Action's Significance Fri, 13 Sep 2019 11:36:52 CDT
American Angus Assoc. CEO Mark McCully Reflects on the Angus Breed's Role the Beef Industry Today Thu, 12 Sep 2019 11:49:28 CDT
Fall Looking Like a Mixed Bag for Beef - Peel Advises Producers Pay Close Attention to Market Dynamics Wed, 11 Sep 2019 10:06:31 CDT
Fall Looking Like a Mixed Bag for Beef - Peel Advises Producers Pay Close Attention to Market Dynamics Wed, 11 Sep 2019 10:04:16 CDT
Cattle Markets Not Expected to Improve as Seasonal Demand Shifts into Lower Gear Heading into Fall Tue, 10 Sep 2019 10:22:26 CDT
State Officials in Colorado Help Local Farmers, Ranchers Launch New "Better With Beef" Initiative Mon, 09 Sep 2019 11:21:19 CDT
Beef Industry Soon to Launch New Campaign Leveraging Consumer Interest in the BQA Program Fri, 06 Sep 2019 10:06:04 CDT
NCBA's Alisa Harrison Highlights the Tremendous Value Digital Marketing Adds to the Beef Checkoff Thu, 05 Sep 2019 10:27:08 CDT
Beef Checkoff Funded Research Helping to Correct the Misconceptions Surrounding Alternative Meat Products Wed, 04 Sep 2019 11:22:41 CDT
American Angus Association Rolls Out New Genomically Enhanced EPD Index Data Set Tue, 03 Sep 2019 11:02:00 CDT
USDA Working on GIPSA Rules After Courts Mandate Rulemaking Process Move Forward Fri, 30 Aug 2019 08:42:30 CDT
One Perspective on Animal ID and the Moving of the Cattle Industry Toward Electronic Ear Tags Thu, 29 Aug 2019 06:16:32 CDT
Dr. Rosslyn Biggs Beef Buzzes About Vesicular Stomatitis with Ron Hays Wed, 28 Aug 2019 14:20:06 CDT
US-Japan Trade Deal Announcement Called Huge News by USMEF CEO Dan Halstrom Tue, 27 Aug 2019 13:50:40 CDT
Placements Surprise in Latest Cattlle on Feed Report- Derrell Peel Explains All Mon, 26 Aug 2019 08:13:14 CDT
NCBA's Sustainability Guru Sara Place Shoots Down the Environmental Misconceptions About the US Beef Industry Fri, 23 Aug 2019 10:29:14 CDT
American Angus Association Rolls Out New Genomically Enhanced EPD Index Data Set Thu, 22 Aug 2019 10:49:14 CDT
K-State's Glynn Tonsor Breaks Down Cattle Market's Surprising Reaction to Tyson Packing Plant Fire Wed, 21 Aug 2019 12:07:53 CDT
NCBA's Allison Rivera Holds USDA's Dragging Feet to the Fire on FMD Vaccine Bank's Implementation Tue, 20 Aug 2019 10:12:11 CDT
USDA Program Designers Struggle to Balance Cost vs. Incentive in Promoting Traceability Participation Mon, 19 Aug 2019 11:59:48 CDT
GIPSA Rule Resurfaces as DOJ Orders Formal Rulemaking Process – NCBA Fighting for Common Sense Solution Fri, 16 Aug 2019 09:41:54 CDT
Have You Heard? Operating as a BQA Certified Producer can Command Up to $17/Head More for Your Cattle Thu, 15 Aug 2019 11:48:16 CDT
Study Shows Cattle from Beef Quality Assurance Certified Producers Command Higher Premium at Auction Wed, 14 Aug 2019 15:24:15 CDT
Tyson Packing Plant Fire Stirs Dramatic Industry Reaction and Speculation with Pronounced Uncertainty Tue, 13 Aug 2019 10:20:31 CDT
USMEF's Dan Halstrom on the Strength of US Beef Exports to Japan Despite Its Tariff Disadvantage Mon, 12 Aug 2019 12:25:23 CDT
Missouri's Meat Labeling Law Draws Backlash from Alternative Meat Proponents Fri, 09 Aug 2019 14:16:29 CDT
Fall Calf Market Expected to be Driven by Higher Corn Prices with Limited Potential for Upside Thu, 08 Aug 2019 10:01:27 CDT
Corn Conundrum Fuels Speculation About Future Profitability in the Cattle Markets Wed, 07 Aug 2019 11:54:46 CDT
WOTUS War Nearly Won as Rule's Final Repeal Expected to be Made Official This August Tue, 06 Aug 2019 12:11:32 CDT
Everything You Need to Know About Trump's Deal with the EU to Increase Market Access for US Beef Mon, 05 Aug 2019 12:18:44 CDT
Blach Says Producers Reaping the Benefits of Their Focus on Better Beef Quality for Today's Consumers Fri, 02 Aug 2019 14:09:02 CDT
CattleFax's Randy Blach Sees Industry Making "Massive Change" in How It Handles Risk Management Thu, 01 Aug 2019 11:04:24 CDT
Checkoff's Impact Continues to Climb - Study Shows Industry Receives $11.91 for Every Dollar Spent Wed, 31 Jul 2019 11:57:16 CDT
As Beef Industry Explores the Marketing Benefits of Traceability, BQA's Potential is Starting to Gain Attention Tue, 30 Jul 2019 10:17:57 CDT
NCBA President Jennifer Houston on the State of the Cattle Industry, Highlights Potential Opportunities Mon, 29 Jul 2019 12:06:11 CDT