Beef Buzz News
OSU Extension Livestock Economist Dr. Derrell Peel Offers Advice For Producers In Uncertain Times
Fri, 03 Apr 2020 09:42:51 CDT
On today’s Beef Buzz, Radio Oklahoma Farm Director Ron Hays talks with Dr. Derrell Peel, OSU Extension livestock economist, about moving forward during uncertain times.
Ron Hays Beef Buzzes with Dr. Derrell Pell
Dr. Peel said we’re in unprecedented territory for the cattle market. We’ve seen massive shocks in the market before, Peel said, but these were specific events and we were able to quickly think past the event.
“This one is different,” Peel said. There is just a lot more uncertainty and it involves everyone, he said.
This time of year, we normally see producers moving cattle off wheat pasture, but stocker feeder prices are in the dumps right now. Can producers wait until prices improve?
“I think waiting this out in the short run for the next 30 to 60 days, is not an option,” Peel said. “I see little prospects in things letting the market rebound significantly in that time period.”
Unfortunately, the uncertainty ramps up in the mid-term, around 6 months out.
In some ways, the period 2 to 9 months out, is more uncertain,” Peel said. “At some point we are going to peak but when will that happen. It’s even a bigger challenge as we try to figure out how this will play out,” Peel said.
The OSU economists advises producers to stay in a “defensive” mode and put any expansion plans on hold.
The key, Peel said, is to remember we are all in this together as the COVID-19 impacts everyone.
Click on the LISTEN BAR below to hear the complete interview with Dr. Peel as he talks with Ron Hays.
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.
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