Beef Buzz News
January Cattle Inventory Report Shows Stability Depsite Pandemic says OSU's Dr. Derrell Peel
Mon, 01 Feb 2021 09:00:39 CST
There were no big surprises in the latest USDA Cattle Inventory Report released Jan. 29, said Dr. Derrell Peel, OSU Extension livestock market economist.
Ron Hays Beef Buzzes With Derrell Peel
There’s a lot of numbers in this report as it gives us an idea of where we stand with our country’s cow herds at the end of January.
This report was pretty much as expected and overall, it shows stable to slightly lower cattle numbers for most of the categories, Peel said.
The all cattle inventory was essentially unchanged, down two tenths of one percent, he said.
The calf crop for 2020 came in down 1.3 percent and they actually lowered last year’s estimate so that was a little smaller than most people expected, Peel said.
There’s no big changes or surprises, he said.
The one big thing that stands out is the fact the industry held stable despite the pandemic.
As a percent of the cowherd we’re saving a few more replacement heifers but it doesn’t necessarily mean expansion, but it clearly takes away from the notion of herd liquidation, Peel said.
A breakdown of the state by state numbers does show some impact from the ongoing drought in the west.
Colorado cow herd numbers are down 15 percent and the number of replacement heifers down about 16 percent, Peel said.
I am not willing to say we’re expanding or liquidating herds, Peel said.
Where we go from here after 2021 it depends on what happens during the year, he said.
A smaller beef supply later in the year is reasonable if you look at the estimated feeder cattle supply, he said.
The estimated feeder calf supply is down 3 percent from a year ago, he said.
We don’t have as many calves in the pipeline, Peel said.
Tighter numbers will hold down beef production, he added.
The OSU economist offered advice for cattle producers.
I think producers are on track to get back to longer term plans in a stable environment, Peel said.
This report confirms what Peel had been thinking the last several months as we move forward and see where the year takes us.
Click on the LISTEN BAR below to hear more of Ron’s interview with Dr. Peel.
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