Beef Buzz News
The U.S. Will See a Decrease in Beef Production in 2022 Says OSU's Derrell Peel
Mon, 27 Dec 2021 12:22:12 CST
The final Cattle on Feed report of the year is out. According to Derrell Peel, extension specialist for livestock marketing at Oklahoma State University, November met professional expectations, putting the December 1 cattle-on-feel total at 99.6% of last year.
"Placements in the month of November at 100.36% of last year," Peel said. "Marketings in November were 105.3% of last year. That gives us a December 1 on-feed total that is just down fractionally."
An extra marketing day accounts for much of the year-over-year increase in the marketings, according to Peel.
"There should be no real surprises to this report from a market reaction standpoint.," Peel said.
He said the cattle and packing industries spent most of 2021 getting on top of the cyclical peak in fed cattle numbers.
"The cowherd peaked in 2019, but the feedlot numbers did not peak until early 2021," Peel said. "If you look at a 12-month moving average, which takes out the seasonality that we normally see, the peak feedlot actually occurred in June."
According to Peel, the latest report shows six months of year-over-year monthly inventories that are down slightly when compared to 2020 levels. Although progress has been slow, the last half of the year proves cattle supplies are getting tighter, he added.
"That means that we are going to see an expected decrease in beef production in 2022," Peel said.
Click on the LISTEN BAR below to hear more from Ron Hays and Derrell Peel as they talk about the newest Cattle on Feed report.
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.
Listen to Ron's conversation with Dr. Peel here.
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