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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

  • Producers Face Many Considerations as Feeder Markets Come Under Pressure of Rising Feed Costs  Wed, 17 Jul 2019 11:04:44 CDT
  • OSU Market Watcher Derrell Peel Shares His Observations from the Countryside on the Cattle Industry  Tue, 16 Jul 2019 09:57:41 CDT
  • R-CALF CEO Bill Bullard in Oklahoma to Promote a Pro-MCOOL Message to Local Beef Producers  Mon, 15 Jul 2019 11:31:25 CDT
  • Greenhouse Gas Guru, Mitloehner, Says Cow-Fart Protestors Spread More Manure than Beef Industry  Fri, 12 Jul 2019 14:15:28 CDT
  • LMIC's Jim Robb Says US Beef Exports Finally Catch Up to Speed While Imports are Larger Than Expected  Thu, 11 Jul 2019 10:39:43 CDT
  • Boxed-Beef Trade's Surprising Performance Underpinning Current Strength in the Marketplace  Wed, 10 Jul 2019 10:28:23 CDT
  • New Web-Based Sire Selection Tool Promises Easier Decision-Making with Herd Specific Optimization  Tue, 09 Jul 2019 10:25:26 CDT
  • Feeling Buried by All the EPDs Out There? University of Nebraska's Matt Spangler May be Able to Help  Mon, 08 Jul 2019 11:54:46 CDT
  • What Do Consumers Really Think About Beef? They Love It... They Just Don't Know Much About It  Fri, 05 Jul 2019 10:32:55 CDT
  • NCBA's Head of Market Research Rick Husted Talks Consumer Perceptions of Beef and Beef Production  Wed, 03 Jul 2019 10:24:30 CDT
  • Industry Association Spearheads Effort to Create Recovery Tool for Producers Victim of Dealer Default  Tue, 02 Jul 2019 10:34:22 CDT
  • BQA Program Continues to Benefit, Improve US Beef Industry as More Producers Commit to Quality  Fri, 28 Jun 2019 10:21:34 CDT
  • Ag Economist Glynn Tonsor Expects Strong Market Reaction if Positive Movement Made in Trade Talks  Thu, 27 Jun 2019 11:06:12 CDT
  • While Not a Market Mover, Latest On Feed Report Does Not Bode Well For Feeders' Bottom Lines  Wed, 26 Jun 2019 11:13:34 CDT
  • Oklahoma National Stockyard's First Female General Manager Kelli Payne Showcases Market's Historical Significance  Tue, 25 Jun 2019 10:53:50 CDT
  • Secure Food Supply Plans Allow Farmers and Ranchers to Take Biosecurity into Their Own Hands  Mon, 24 Jun 2019 12:22:48 CDT
  • RMA's Haying and Grazing Date Adjustment Good News for Cattle Producers Badly in Need of Forages  Fri, 21 Jun 2019 11:40:04 CDT
  • NCBA's Scott Yager Touts Livestock Producers' Regulatory Relief from Superfund Law Under FARM Act  Thu, 20 Jun 2019 11:07:36 CDT
  • Market Watcher Derrell Peel Shares His Advice on How to Build Your Strategy Around Market's Mounting Volatility  Wed, 19 Jun 2019 10:05:52 CDT
  • Prospect of Higher Feed Costs Generating Both Challenges and Opportunities for Cattle Producers  Tue, 18 Jun 2019 11:01:21 CDT
  • Beef Industry Experts Don Close and Kent Bacus Explain Why Mandatory Labelling Isn't So "COOL" After All  Mon, 17 Jun 2019 11:36:49 CDT
  • Rabo Agrifinance’s Don Close Shares His Top Four “Unknown Unknowns” of the Beef Industry in 2019  Fri, 14 Jun 2019 09:29:13 CDT
  • Despite Minor Declines, US Beef Export Business Continues to Perform Well as Fringe Markets Grow  Thu, 13 Jun 2019 13:19:37 CDT
  • Cattle Market Under Pressure as Corn Plantings Continue to Struggle, Adding to Price Weakness  Wed, 12 Jun 2019 11:07:37 CDT
  • Government Cracks Down on Sue and Settle Tactics Employed by Environmental Activist Groups  Tue, 11 Jun 2019 10:28:55 CDT
  • Industry Has Its Work Cut Out for Itself as Wildlife Service Weighs Listing the Lesser Prairie Chicken  Mon, 10 Jun 2019 11:19:40 CDT
  • NCBA's Colin Woodall Calls Out Misconceptions About Fake Meat's Claims of 'Zero-Sum' Production  Fri, 07 Jun 2019 10:49:24 CDT
  • Donnell Brown Proclaims Efficiency the Next Great Frontier, Genomic Enhancement will Get Us There  Thu, 06 Jun 2019 09:53:06 CDT
  • Generational Transfer Happens Whether We're Prepared for it or Not - So Why Not Plan Ahead Now  Wed, 05 Jun 2019 09:42:15 CDT
  • Food Industry Leader John Patrick Lopez Says Sharing Agriculture's Story is Everyone's Responsibility  Tue, 04 Jun 2019 10:15:01 CDT
  • OKC-Based Processor Behind McDonald's Non-Frozen Beef Menu Brings Chain Some Fresh Sizzle  Mon, 03 Jun 2019 11:57:26 CDT
  • China's African Swine Fever Problem Largely Seen as a Positive for US Ag- But What's the Downside  Fri, 31 May 2019 10:20:36 CDT
  • Angus Dollar Value Index Upgraded to Meet Today's Economic Conditions, Dan Moser Explains  Thu, 30 May 2019 10:59:45 CDT
  • Greenhouse Gas Guru, Mitloehner, Says Cow-Fart Protestors Spread More Manure than Beef Industry  Wed, 29 May 2019 09:40:47 CDT
  • USDA Reports Highest May 1 Inventory of Cattle on Feed Since '96 - Derrell Peel Shares His Analysis  Tue, 28 May 2019 10:21:29 CDT

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