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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

Slow Corn Planting Caused by Recent Rains Dampen Spirits in Cattle Industry, Derrell Peel Explains 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.


“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.



   




   

Listen to Peel's full analysis of the current beef market and how recent weather has factored in below.
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Beef News

  • CFAP Payments For Cattle Producers Close To Estimated Losses Says OSU's Derrell Peel  Wed, 27 May 2020 10:11:58 CDT
  • OSU's Dr. Peel Says Packing Plants Have Incentive To Return To Full Capacity  Tue, 26 May 2020 09:50:06 CDT
  • No Surprises Found in the May USDA Cattle on Feed Report- So Says OSU Economist Dr. Derrell Peel  Sat, 23 May 2020 16:41:14 CDT
  • Animal Rights Activists Using COVID-19 Crisis To Attack Ag Animal Industry  Fri, 22 May 2020 10:30:10 CDT
  • NCBA President Marty Smith Encouraged By Government Aid Program And Packing Plant Progress  Fri, 22 May 2020 03:55:11 CDT
  • Boxed Beef Prices Fall As Supply Chain Catches Up With Demand  Wed, 20 May 2020 10:20:11 CDT
  • Packing Plants Slowly Increasing Capacity But It Could Take Months To Work Off Cattle Back Log, Says KSU's Dr. Glynn Tonsor  Tue, 19 May 2020 09:40:55 CDT
  • Packing Plants Slowly Increasing Capacity But It Could Months To Wrok Off Cattle Back Log, Says KSU's Dr. Glynn Tonsor  Tue, 19 May 2020 09:18:11 CDT
  • Consumers Will Have Plenty of Beef For Memorial Day Cookouts, Says NCBA's Colin Woodall  Mon, 18 May 2020 09:44:12 CDT
  • More Relief Could Be Headed To The Farm, Says NCBA's Colin Woodall  Fri, 15 May 2020 10:38:11 CDT
  • Beef Exports Value Estimated at $1 Billion For U.S. Cattle Producers, Says Dr. Derrell Peel  Thu, 14 May 2020 17:14:56 CDT
  • NCBA's Alisa Harrison Explains New Beef Consumer Research And Memorial Day Campaign  Wed, 13 May 2020 10:27:15 CDT
  • Getting Labor Force Back Online Critical For Packing Plants, says Iowa State's Dr. Lee Schulz  Tue, 12 May 2020 10:01:16 CDT
  • Fomer CBB Chair Chuck Coffey Says It's Our Job to Promote Beef  Mon, 11 May 2020 10:06:23 CDT
  • Ag Economist Bart Fischer Explains Why Beef Trade Must Be a Two-Way Street  Fri, 08 May 2020 10:04:16 CDT
  • Texas A & M Ag Economist Bart Fischer Says Investigation Into Meat Market Collusion is Underway  Thu, 07 May 2020 10:32:18 CDT
  • OSU's Dr. Peel Urges Understanding The Meat Industry Before Making Wholesale Changes  Wed, 06 May 2020 10:30:28 CDT
  • Beef Producers Working To Help Food Service Industry Reopen  Tue, 05 May 2020 09:57:16 CDT
  • Years of Beef Checkoff Research Now Paying Dividends For Consumers, Says NCBA's Alisa Harrison  Mon, 04 May 2020 09:59:18 CDT
  • U.S. Meat Export Industry Ready to Meet The Global Market Demand, Says Dan Halstrom, USMEF President and CEO  Fri, 01 May 2020 09:55:12 CDT
  • U.S. Meat Eport Federation Bracing For Full Impact of COVID-19  Thu, 30 Apr 2020 10:07:11 CDT
  • Trump's Order To Keep Meat Processing Plants Open Will Not Immediately Fill Retail Meat Counter, Says OSU's Derrell Peel  Wed, 29 Apr 2020 10:05:17 CDT
  • Katelyn McCullock, Livestock Market Information Center, Believes Cattle Market Could Get Worse, Depending on Plant Closings  Tue, 28 Apr 2020 10:10:11 CDT
  • Latest Cattle on Feed Report Shows Why There is a Ripple Effect Happening in The Cattle Processing Chain as Cattle Are Being Backed Up Into May and June  Mon, 27 Apr 2020 11:55:13 CDT
  • TCFA President Ross Wilson Requests USDA To Waive COVID-19 Payment Limits  Fri, 24 Apr 2020 17:47:12 CDT
  • OCA's Michael Kelsey Offers Insight Into Cattle Producers Forced to Make Tough Decisions During Uncertain Time  Thu, 23 Apr 2020 10:17:10 CDT
  • The Navigable Waters Protection Rule, Which Replaces The Old WOTUS Rule, Is Now Official. NCBA's Chief Environmental Counsel Scott Yager Explains What That Means  Wed, 22 Apr 2020 10:08:37 CDT
  • As Cattle Processing Drops 20 Percent, KSU's Dr. Glynn Tonsor Offers Hope Beef Demand Will Rebound  Tue, 21 Apr 2020 09:56:32 CDT
  • USDA Coronavirus Funds Tagged For Livestock Producers, But Relief May Be a Month Away, Says NCBA's Colin Woodall  Mon, 20 Apr 2020 09:51:54 CDT
  • Colin Woodall, NCBA CEO, Is Hopefull Meat Packing Plant Closures Are Only Temporary  Fri, 17 Apr 2020 09:55:10 CDT
  • The Live Cattle Futures Market is Relevant, Yet Seems Overly Pessimistic Says Don Close, Rabo AgriFinance Analyst  Fri, 17 Apr 2020 04:56:10 CDT
  • Economist Don Close with Rabobank Compares COVID-19 Impact on Beef Industry to Nixon Era Price Freeze  Wed, 15 Apr 2020 14:28:12 CDT
  • OSU Extension Livestock Economist Dr. Derrell Peel Says Fear of The Unknown Driving The Cattle Market Now  Tue, 14 Apr 2020 09:59:16 CDT
  • Economic Analysis Shows Beef and Pork Prices Negatively Impacted by Temporary Plant Closings  Mon, 13 Apr 2020 10:15:54 CDT
  • KSU Livestock Market Economist Glynn Tonsor Explains Once In a Lifetime Shock to Beef Industry is Partly to Blame For Market Disruption  Fri, 10 Apr 2020 09:58:28 CDT

  •  

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