Beef Buzz News
January Cattle Inventory Report Could Set The Stage For a Successful 2021, Says OSU's Derrell Peel
Tue, 22 Dec 2020 08:05:54 CST
The USDA Cattle Inventory report due out in late January could set the stage for a successful year in 2021, said Dr. Derrell Peel, OSU Extension livestock market economist.
Ron Hays Beef Buzzes With Dr. Derrell Peel
I think we’re going to come in being down one to maybe a half percent, Peel said, which is less than some of his colleagues estimate.
We’re liquidating slowly based on what we see in beef cow and heifer slaughter numbers during the year, Peel said.
The OSU economist offered some advice for cattle producers in 2021.
The real hope is the year will be one to go back on offense, think about your objectives and plans, he said, but it may not happen in the early part of the year.
The second half of 2021 offers more hope and opportunities, he said.
Out of adversity opportunity arises, Peel said.
He encouraged producers to be in position to take advantage of those opportunities.
The bottom line for 2020, surviving is just something to be thankful for, he noted.
We now understand how things work and we will be stronger coming out of this, Peel said.
Peel added beef demand this winter is a concern as the food service sector is still restricted.
I think right now during the holidays, will set the stage for going into the new year, depending on how much product is moved with few slowdowns, Peel said.
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