Beef Buzz News
So Far So Good- Derrell Peel Sees Beef Demand Hanging in There as First Quarter 2022 Ends
Tue, 29 Mar 2022 08:33:32 CDT
Extension Livestock Market Economist Dr. Derrell Peel says so far so good for US Beef Demand in 2022 even in the face of higher beef prices staring consumers in the face when they walk down the supermarket aisles in the fresh meat section. "You know so far, demand seems to be holding up well, prices are high- there's a lot of talk about high prices and pushback- but we are not seeing much."
Peel tells Oklahoma Farm report's Ron Hays that as we approach April- it's the time of year when beef demand has several things going for it. "when we get into April, we'll be buying beef in anticipation of Memorial Day and the beginning of grilling season." He adds it's not just beef prices that are up- it's also chicken and pork prices that are also higher- "For the consumers, it's kinda painful all the way around but it all comes down to relative prices and beef seems to be hanging in there pretty well."
Peel and Hays also talk about current cattle supplies and when we might see tighter numbers of cattle in our feedlots. Dr. Peel says the big unknown factor is how much drought the cattle industry will have to deal with as we hit the second and third quarters of 2022. More drought could force cattle off pasture and into feedlots ahead of when you might normally expect them to be arriving.
Listen to Dr. Peel's comments in this second part of our conversation with him that came last Friday right after the USDA Cattle on Feed Report- click on the LISTEN bar below to hear his comments.
And you can listen to part one of our conversation when we focused on the Cattle on Feed report in our Monday Beef Buzz by clicking here.
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. 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.
Ron Hays Beef Buzzes with Dr. Derrell Peel on Beef Demand
right-click to download mp3
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