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Beef Buzz News


Katelyn McCullock, Livestock Market Information Center, Believes Cattle Market Could Get Worse, Depending on Plant Closings

Tue, 28 Apr 2020 10:09:50 CDT

Katelyn McCullock, Livestock Market Information Center, Believes Cattle Market Could Get Worse, Depending on Plant Closings Meat processing plants closed due to the COVID-19 pandemic have hammered the pork industry harder than the beef industry but Katelyn McCullock, director and senior agricultural economist for the Livestock Marketing Information Center, believes the situation could worsen for the cattle industry. Today’s Beef Buzz features comments from McCullock as she analyzes the latest processing and marketing numbers.

Overall slaughter capacity for beef processing plants have decreased 25-30 percent in recent weeks as plants temporarily close due to COVID-19. McCullock said it could deteriorate even further.

“I think it depends how many plants are closed at the same time and the ability to shift slaughter depending on which region you’re in,” McCullock said.

“I would expect cow prices to move lower,” she said.

McCullock said there are still a lot of uncertainties hanging over the market.

Until we get through all the regional COVID-19 peaks, we’re still in for volatile prices, she said.

The livestock market analyst said it is likely cattle feeders are going to back up cattle in coming weeks, as indicated in the latest Cattle on Feed Report.

Placements are the lowest since 1996, she said, as producers are finding it difficult to hedge enough to lock in a profit.

She expects heavy placements this summer and continued spotty supplies at the retail level.

Click on the LISTEN BAR below to hear more comments from Katelyn McCullock.

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 Katelyn McCullock
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