Beef Buzz News
Tale of Two Different Feeder Cattle Markets This Fall Says Dr. Derrell Peel
Wed, 02 Dec 2020 08:10:46 CST
This fall’s feeder cattle market has been a mix of many variables and Dr. Derrell Peel, OSU Extension livestock market economist, said even though that is normal, the variability is even greater this year.
Ron Hays Beef Buzzes With Dr. Derrell Peel
Anytime we look at the feeder cattle market you always have a mix of weights with young, new crop calves on one end and yearling cattle on the heavy end, Peel said.
And that’s particularly true in the fall when we are marketing our newly weaned calves, he said.
We’ve seen a pronounced difference in the lightweights and the heavyweights this year, he said.
There have been significantly higher prices on the lightweights but a flat market for the heavier caves, Peel said.
The OSU economist said it’s been the tale of two different feeder cattle markets with the different weight classes.
As we get to the end of the year, many producers may be asking “do I sell now or hold on a few months”?
Certainly, there is an opportunity now to sell with the run up in the lightweight calves, he said.
Backgrounding and retaining calves is extremely dynamic and depends on where you are at with the feed resources, he said.
It’s difficult to make a blanket recommendation, Peel said.
Precipitation over the last 30 days has improved wheat pasture prospects but Peel said the market has already factored that into the equation.
I suspect a lot of demand is a result of improved moisture and wheat pasture prospects, but the underlying concern is there is still a lot of dry conditions around, Peel said.
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