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Beef Buzz News


OSU's Derrell Peel Says Cattle Markets Looking Solid as We Approach the Middle of 2019's Fourth Quarter

Mon, 11 Nov 2019 06:54:13 CST

OSU's Derrell Peel Says Cattle Markets Looking Solid as We Approach the Middle of 2019's Fourth Quarter Fire at the Tyson beef packing plant in early August shut that facility down causing prices to go down sharply- even as Boxed Beef Prices went up sharply, and then eventually retreat. Ron Hays sat down to talk markets, and cattle prices with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel- Hays catching up with Dr. Peel on the sidelines of the Oklahoma Cattlemen's Association Quarterly Board Meeting.


Because of the shock of the fire, cattle prices went down substantially, but have now recovered from the lows after that fire. The Good news is that beef and cattle prices look solid and strong in the aftermath of that shock. Peel remarks, “You know across the board the entire cattle and beef complex has really had a remarkable run since mid-September. We’ve had a tremendous run in cash markets, futures markets, feeder cattle, fed cattle, and the boxed beef market.”


We are in the middle of the fourth quarter now, so what does 2020 look like for the markets? Dr. Peel says we may have leveled out, or possibly plateaued on the mama cow numbers. “I think the inventory has plateaued. I’m basically expecting the January 2020 cattle inventory numbers to be plus or minus unchanged. They could be either way slightly, but I don’t look for a major change in either one of those.”


Going forward if producers want to get the highest yield for their cattle, Peel says they are going to have to do some homework. Peel mentions that the cattle industry has always struggled with the idea of balancing a commodity oriented system, which from a cost standpoint Is more efficient, against the reality that cattle and the meat products they produce are ultimately very different products, and those products have very different value potentials. “So what we are trying to do is find ways to capture more of the additional value of cattle and those products that come from those cattle and still benefit from the cost efficiencies of the commodity kind of way we manage cattle in much of our system.”


One of the most important ways to get a higher value for calves is wean time. Right now, the minimum wean time is 45 days for many of the preconditioning programs, but more and more- buyers prefer 60 to 120 days. Peel mentions “What we are seeing more of in the industry from the buyers stand point is that they really prefer 60 days minimum, and I think we are probably moving toward a norm like that.” Part of the reason for later weaning is because cattle producers still struggle with respiratory disease issues. Peel adds “This is one way for the buyers to enhance that a little bit and minimize some of those impacts”


Click on the LISTEN BAR below to hear more from Dr. Daryl Peel as he talks with Ron Hays in 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.



   
   

Ron Hays Beef Buzzes with Dr. Derrell Peel
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Beef News

  • Cattle Industry Will Provide Watchful Eye as US and Chinese Trade Officials Work to End Non Scientific Trade Barriers for US Beef  Fri, 17 Jan 2020 12:23:42 CST
  • NCBA’s Kent Bacus Hopeful China May Soon Be a Billion Dollar Beef Market for US Producers  Thu, 16 Jan 2020 20:49:14 CST
  • OSU’s Dr. Derrell Peel Says Preconditioning and Risk Management Are Tools to Help You Prosper in 2020  Wed, 15 Jan 2020 06:48:10 CST
  • Dr. Derrell Peel Sees Cattle Marketplace in 2020 Starting on a Positive Note  Tue, 14 Jan 2020 08:26:13 CST
  • When They Meet the Criteria of the Certified Angus Beef Program, Those Calves Are Worth More  Mon, 13 Jan 2020 05:35:18 CST
  • LMIC's Katelyn McCullock Previews the 2020 Cattle Inventory Report and Expected Beef Cow Numbers  Sat, 11 Jan 2020 10:43:26 CST
  • Oklahoma Cattlemen’s Association is Ready to Roll up their Sleeves and Review Policy at their One Day Winter Policy Conference   Thu, 09 Jan 2020 07:10:54 CST
  • New Deal, New Opportunities for U.S. Beef in the European Market   Wed, 08 Jan 2020 06:33:06 CST
  • If Trade Rules for US Beef Are Relaxed in US-China Phase One Deal- Erin Borror Sees Mind-Boggling Trade Ahead  Tue, 07 Jan 2020 07:34:48 CST
  • USMEF's Erin Borror says Just Implemented US-Japanese Trade Deal Puts US Cattle Producers Back in the Game in Japan  Mon, 06 Jan 2020 10:20:59 CST
  • McDonalds Proud to be a Part of Continuous Improvement in Sustainability in the Beef Value Chain  Fri, 03 Jan 2020 12:28:31 CST
  • It's a Great Resolution for 2020- Resolve to Tell Your Beef Cattle Story to Consumers Via Social Media  Thu, 02 Jan 2020 16:36:26 CST

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