Beef Buzz News
Strong Marketings Key to Working Through Record Cattle Numbers in US Feedlots
Tue, 24 May 2022 08:06:26 CDT
In today's Beef Buzz- Oklahoma Farm Report's Ron Hays continues to talk Cattle on Feed with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel. The May 2022 Cattle on Feed report from USDA showed a record number of cattle on feed as of May 1, 2022 since the current data set has been kept- stretching back to 1996.
Ron Hays Beef Buzzes with Dr. Derrell Peel on the latest Cattle on Feed Report
Dr. Peel says that with the large number of cattle now in our nation's feedlots, it's important that all the factors that make up our ability to market cattle run as smoothly as possible to keep marketings on track for the next several months through the rest of the second quarter and into the third quarter as well.
That includes beef demand staying strong domestically and internationally- packers keeping their weekly kills at high levels(labor is a key to this) and feedlots being aggressive in selling their market ready pens.
Peel says "the way we are stacking these cattle up- we're going to need to continue to move them and we typically we seasonally do move a lot of cattle at this time of the year but as we get into the heat of the summer- the summer doldrums- that gets a little bit more challenging. That may be where we have to watch this movement in the July and August time frame."
He's also hopeful that we will start see placements falling under a year ago significantly and that will give us some help in managing the feedlot numbers we face later in 2022.
Hays and Peel also discuss the number of heifers that may be headed to the packing plants instead of being used as herd replacements- and Dr. Peel says that this year's herd liquidation could be the largest we have faced in the US since the mid 1980s.
He adds that the forage situation is very critical- drought is one problem but also in areas that have had enough rainfall are also facing fertilizer problems- with prices on this key input three times what many producers have paid for in recent seasons- when it is available.
<a href="https://downloads.usda.library.cornell.edu/usda-esmis/files/m326m174z/pz50j2077/j67328819/cofd0522.pdf">;Click here</a> to see the complete May Cattle on Feed report from USDA.
Click the LISTEN BAR below to hear more as Ron Hays talks this latest Cattle on Feed report with OSU's Dr. Derrell 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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