Beef Buzz News
2020 May End Being a Normal Year For Beef Production Says OSU's Dr. Derrell Peel
Tue, 01 Dec 2020 08:36:47 CST
Despite all the craziness of 2020 we’re not far from market expectations at the beginning of the year said Dr. Derrell Peel, OSU Extension livestock market economist.
On the supply side it has been an interesting year and here in the last half of the year we’ve seen beef production following close to year ago levels, actually averaging 1.5 to 2 percent above year ago, he said
Steer slaughter has been running above year ago levels but heifer slaughter below, Peel said.
We’ve got more beef production now than at this time a year ago, Peel said.
He said the bottom line is we’re going to come out close to what we expected in January.
Coming into the year we knew about how many cattle were out there, but we didn’t depopulate like the hog industry was forced to do, so we basically just changed the timing, Peel said.
On the beef demand side, boxed beef prices have had a strong run up since October and we’re watching how the individual cuts work out with all the turmoil, Peel said.
Retail sales are doing well but food service has struggled.
As we go into the winter, we typically see more emphasis on food service but we’re still putting a lot of extra emphasis on retail grocery right now, he said.
Ribeyes are very popular during the holidays and we’ve seen this and that’s a good thing, Peel said.
Other products tell a different story as beef tenderloin is exclusively a food service item and that’s down over 20 percent compared to a year ago, Peel said.
Briskets are weak as that is typically a BBQ food service item.
It’s a mixed bag and something we have to watch going into the winter, Peel said.
Click on the LISTEN BAR below to hear more comments from Dr. Peel.
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. Peel
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Beef News
New Company Touts Affordable And Efficient Livestock RFID Ear Tagging System Thu, 22 Apr 2021 08:06:58 CDT
New Livestock Electronic Tracking System Simplifies Record Keeping Wed, 21 Apr 2021 08:24:01 CDT
Oklahoma National Stockyards Continues to Play a Significant Role For The Cattle Industry Tue, 20 Apr 2021 08:12:05 CDT
Oklahoma National Stockyards Having a Good Year Says President Kelli Payne Mon, 19 Apr 2021 08:08:20 CDT
Momma Cows Could Still be Showing Effects of February's Brutal Cold Says OSU's Mark Johnson Fri, 16 Apr 2021 08:03:44 CDT
February's Brutal Cold Could Impact Breeding Bulls This Spring Says OSU's Mark Johnson Thu, 15 Apr 2021 08:06:56 CDT
U.S. Meat Export Federation CEO Expects Good Year For Exports Wed, 14 Apr 2021 08:22:00 CDT
U.S. Meat Exports Down in Latest Report But Dan Halstrom, U.S. Meat Export Federation, Says That Was Expected Tue, 13 Apr 2021 07:43:40 CDT
Rancher Lamar Steiger Says Wal Mart Focused on Providing High Quality Fresh Beef Mon, 12 Apr 2021 08:15:13 CDT
Wal Mart Heads The List of Grocery Stores Focusing on Providing Quality Beef For Consumers Fri, 09 Apr 2021 08:34:04 CDT
Arkansas Beef Producer Explains How Wal Mart Improved Its Meat Counter Reputation Thu, 08 Apr 2021 08:18:03 CDT
Producers Should Have a Plan Ready if Drought Becomes Reality This Summer, Says OSU's Derrell Peel Wed, 07 Apr 2021 08:14:52 CDT
Strong Demand Fueling Higher Beef Cattle Prices Says OSU's Derrell Peel Tue, 06 Apr 2021 08:01:26 CDT
Flies Are a Huge Economic Threat For Pasture Cattle Says Mark Upton, Central Life Sciences Mon, 05 Apr 2021 07:58:15 CDT
Beef Cattle Producers to Receive CFAP Funds Soon, Says NCBA's Ethan Lane Fri, 02 Apr 2021 08:09:12 CDT
NCBA's Voluntary Price Discovery Policy Approaches First Milestone Says Ethan Lane in The D.C. Office Thu, 01 Apr 2021 07:58:15 CDT
Senate Legislation Establishing Percentage of Cash Versus Negotiated Cattle Trade Examined by NCBA's Ethan Lane Wed, 31 Mar 2021 08:20:52 CDT
Cloud of Uncertainty Hangs Over Meat Demand Going Into Spring Months Tue, 30 Mar 2021 10:56:10 CDT
KSU's Dr. Glynn Tonsor Develops Tool to Determine Value of Calf Vaccination Programs Mon, 29 Mar 2021 07:50:16 CDT
KSU's Dr. Glynn Tonsor Uses Meat Demand Index to Measure Improving Economy Fri, 26 Mar 2021 08:03:06 CDT
Cattle Producers to Finally Receive Payments From First Round of CFAP Thu, 25 Mar 2021 08:04:47 CDT
Research Shows Grazing Cattle Provide Many Benefits For Both Humans And The Environment Wed, 24 Mar 2021 08:22:03 CDT
Next Six Weeks Critical For Cattle Market Says OSU's Dr. Peel Tue, 23 Mar 2021 07:58:45 CDT
No Surprises in The February Cattle on Feed Report Says OSU's Derrell Peel Mon, 22 Mar 2021 08:02:35 CDT
Jack Ward, American Hereford Association, Praises Cattlemen's Congress And Will Make Decision on Returning in 2022 by Early April Fri, 19 Mar 2021 08:29:02 CDT
New Dietary Guidelines Say It's Okay to Give Beef to Infants And Toddlers Thu, 18 Mar 2021 07:53:36 CDT
Consumer Demand For High Quality Beef Increased During The Pandemic Says Dr. Nevil Speer Wed, 17 Mar 2021 15:30:22 CDT
Livestock Shows Displaying Real World Examples of What we Need on The Farm, Says OYE Judge Frank Ward Tue, 16 Mar 2021 08:17:27 CDT
Horn Flies Are a Huge Economic Threat For Pasture Cattle But Can be Easily Controlled Mon, 15 Mar 2021 08:30:01 CDT
Current Congress Unlikely to Repeal Death Tax Says NCBA's Danielle Beck Fri, 12 Mar 2021 08:26:32 CST
KSU Research Shows Consumers Overwhelmingly Prefer Beef Burgers Over Plant-Based Alternatives Thu, 11 Mar 2021 08:15:22 CST
It's Important to Accurately Compare Genomic EPDs For Older and Younger Cattle, Says Kelli Retallick, Angus Genetics, Inc. Wed, 10 Mar 2021 08:32:10 CST
OSU's Derrell Peel Expects Higher Feed Costs to Impact How Feedlots Buy Feeder Cattle Tue, 09 Mar 2021 08:03:34 CST
Good Record Keeping Critical For Profitability, Regardless The Size of Beef Cow Herd Mon, 08 Mar 2021 07:48:36 CST
Consumers Want More High Quality Beef, Says CattleFax CEO Randy Blach Fri, 05 Mar 2021 08:01:32 CST
