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Beef Buzz News


OSU's Derrell Peel Believes Latest Cattle on Feed Report Shows We Are Continuing to Work Through a Large Number of Cattle

Mon, 24 May 2021 08:12:18 CDT

OSU's Derrell Peel Believes Latest Cattle on Feed Report Shows We Are Continuing to Work Through a Large Number of Cattle Analyzing the numbers from the latest USDA Cattle on Feed report, Dr. Derrell Peel, OSU Extension livestock market economist, said we are slowly working our way through a large number of cattle.

The May Cattle on Feed report showed April placements at 127.2 percent of a year ago, Peel said.

Marketings during April were 132.8 percent and total on-feed at 104.7 percent.

Keep in mind the pandemic was raging one year ago and that makes it difficult to compare numbers, Peel said.

It’s going to be a challenge for the next several months comparing these numbers to a year ago, he said.

Comparing the latest numbers to earlier this year gives us an indication of the large number of cattle carried over from last year, Peel said.

My read of this latest set of numbers is we are making progress, he said, but we still have three or four months to work through the backlog of fed cattle.

With packing capacity maxed out, the pace for making progress will be slow, he said.

The bottom line is we still have a few more months of tough sledding, he noted.

It is getting better, but it takes time, Peel said.

The OSU economist added we need to keep an eye on any impact the on-going drought in some parts of the country might have on the cattle numbers.

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.


   
   

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