Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Beef Buzz News

Decades of Work by Beef Industry Yields a Billion Dollars Monthly in Beef Exports

Tue, 13 Sep 2022 09:44:34 CDT

Decades of Work by Beef Industry Yields a Billion Dollars Monthly in Beef Exports Senior Farm and Ranch Broadcaster, Ron Hays, is visiting with Kansas State University’s Extension Livestock Market Economist, Dr. Glynn Tonsor, talking about the latest market analysis in the beef industry.

Tonsor indicates a fairly stable week of markets last week as far as the slaughter cattle markets and the feeder cattle markets are concerned. Wholesale boxed beef trade, he said, is just a tad cheaper than the week before.

“Friday, USDA called the choice market at $2.57,” Tonsor said. “It was off about two dollars, and they called select at $2.36, off about three dollars from the week before. So just a little bit of weakness there.”

Tonsor said the July beef export numbers came in, topping a billion dollars again.

“I am highlighting that because there still continues to be some export demand strength and even though we have some gray clouds on the horizon there, I continue to be amazed by how strong that is,” Tonsor said. “That is one of the reasons I think these cutout values have stayed up, despite the fact that we still have year-to-date production volumes that are higher than last year.”

About those export numbers out, Dan Halstrom, president and CEO of the U.S. Meat Export Federation says it is key to note that it is not just volume, but value of our beef exports continuing to rise.

“Of course, the volumes being up are always a good thing in July and for the year, but the real selling point is the value is increasing,” Halstrom said. “We are at just about 473 dollars a head for the month of July, which is up 47 dollars a head versus a year ago. So, the volumes are increasing, but the value is also going up. We sit here and wonder with prices going up how long will it last and think the answer so far is it is still strong. It is into Asia and also Latin America, so hopefully, that will continue to be the case later this year.”

As for the processing volumes, Tonsor says the number is up from last year.

“Remember we have Labor Day effects in this as well, so the overall number is going to be a little lower, but the initial estimates through Saturday were 604,000 head,” Tonsor said. “That is up from about 579,000 the same week from the year before.”

Year-to-date, Tonsor said we have harvested 1.3 percent more than last year.

“That is not something that certainly 90 days and 180 days ago all of us were expecting and it is because of these pulling cattle forward drought effect and so forth,” Tonsor said. “Our ability to continue to move a heavy volume of cattle and sustain, at least historically, larger cutout numbers- they are down from their peaks for sure- indirectly, is a testament to domestic and foreign beef demand strength and I hope it continues.”

Tonsor said there is a lot of macroeconomic uncertainty around the world and that tends to slow protein purchasing which is what U.S. beef is in the broader global context.

“If you pause there, I think USMEF should get a lot of credit for continuing to build and expand market access,” Tonsor said. “There is a multi-decade effort at play there, not just month to month.”

The recent success of being able to say over a billion dollars in exports per month, Tonsor said, did not happen overnight. It is a function of things that have been done a week ago, a month ago, and sometimes 20 years ago in the industry, he said, and we need to keep that in mind when we have broader industry debates that have been going on for the last couple of years.

Click the LISTEN BAR below to hear more from Dr. Tonsor and Dan Halstrom on the beef markets.

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.



Glynn Tonsor and Dan Halstrom Market Analysis of Beef Industry
right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Beef News

  • Kaitlynn Glover Reviews Supreme Court Oral Arguments on WOTUS  Wed, 05 Oct 2022 09:45:32 CDT
  • NCBA Working to Keep GIPSA Rules in the Past   Tue, 04 Oct 2022 09:15:31 CDT
  • NCBA's Colin Woodall Believes Beef is a Key Part of the Solution to Stamping out Hunger  Mon, 03 Oct 2022 11:52:58 CDT
  • Federal Disaster Programs Available to Aid Producers in Forage Loss and Transportation   Fri, 30 Sep 2022 08:53:09 CDT
  • Congressman Frank Lucas Works to Exclude Farmers and Ranchers from SEC Climate Disclosure Rulemaking  Thu, 29 Sep 2022 13:17:29 CDT
  • USDA's Proposed Regulations Under the Packers and Stockyards Act Raises Concerns from NCBA  Wed, 28 Sep 2022 09:25:15 CDT
  • Derrell Peel Believes Strong Incentives Coming for Cattle Producers Once We See Drought's End  Tue, 27 Sep 2022 08:45:14 CDT
  • Derrell Peel Sees Beef Cow Culling to Set All-Time Record by the Fourth Quarter of 2022  Mon, 26 Sep 2022 10:03:22 CDT
  • Integrity Beef Helping Producers Develop Value Added Cattle  Fri, 23 Sep 2022 11:18:28 CDT
  • OCA's Michael Kelsey Likes Pond Cleanout and Drilling Water Wells as Possible Investments of Emergency Drought Funds  Thu, 22 Sep 2022 10:58:02 CDT
  • Iowa Cattleman Tells Lawmakers About Improvements Needed in EQIP and CRP  Wed, 21 Sep 2022 10:21:45 CDT
  • Beef Demand Remains Stronger than Anticipated Despite Stubborn Inflation   Tue, 20 Sep 2022 09:41:19 CDT
  • As Drought Persists, Cow Herd Liquidation Continues   Mon, 19 Sep 2022 10:03:30 CDT
  • Integrity Beef Receives Climate-Smart Ag Grant to Ensure Longevity and Sustainability of the American Ranch  Fri, 16 Sep 2022 09:35:58 CDT
  • Hereford Breed Continues to Provide Value to Cattlemen as Demand Remains Strong  Thu, 15 Sep 2022 09:00:11 CDT
  • Consumers Keep Buying Beef, but Many Looking for Ways to Keep Cost Per Meal Affordable  Wed, 14 Sep 2022 10:42:26 CDT
  • Decades of Work by Beef Industry Yields a Billion Dollars Monthly in Beef Exports   Tue, 13 Sep 2022 09:44:36 CDT
  • Biden Administration Hurries to Finish Their Finalized Rule on WOTUS- Ignoring Supreme Court Arguments in October   Mon, 12 Sep 2022 10:53:15 CDT
  • Mary Thomas Hart says Livestock Regulatory Protection Act is a Top Priority for NCBA  Fri, 09 Sep 2022 08:54:03 CDT
  • Cattlemen's Congress- The Mecca for Domestic and International Cattle Producers  Thu, 08 Sep 2022 09:58:03 CDT
  • PJ Budler Working with Cattlemen's Congress to Make it a Premier Destination for International Cattle Producers  Wed, 07 Sep 2022 09:37:02 CDT
  • As Concerns Over China Rise, They Remain a Top Tier Destination for US Beef  Tue, 06 Sep 2022 10:39:19 CDT
  • ICYMI- OSU's Rosslyn Biggs talks Rural Vet Shortage Across the Country   Mon, 05 Sep 2022 12:37:29 CDT
  • Beef. It's What's for Dinner. Remains a Top-Tier Brand to Consumers   Fri, 02 Sep 2022 08:52:58 CDT
  • USDA Proposal on Electronic ID Tags Only for Animal Disease Traceback   Thu, 01 Sep 2022 10:01:40 CDT
  • NCBA Supportive of Cattle Electronic ID System to Aid in Disease Traceability  Wed, 31 Aug 2022 09:10:48 CDT
  • OSU's Derrell Peel Sees Tighter Cattle Numbers Translating Into Falling Beef Production  Tue, 30 Aug 2022 10:18:19 CDT
  • FSA Administrator, Zach Ducheneaux, Working to Continuously Improve Assistance Programs for Cattle Producers   Mon, 29 Aug 2022 10:04:40 CDT
  • Jaymelynn Farney Provides Insight on Good Forage Options for Cattle Producers in Fall 2022  Fri, 26 Aug 2022 10:20:15 CDT
  • Cover Cropping a Valuable Strategy for Ranchers, says Jaymelynn Farney   Thu, 25 Aug 2022 13:16:08 CDT
  • Hay Supplies are Short and Likely to Get Worse, Says Cattle Marketer Bob Rodenberger   Wed, 24 Aug 2022 08:00:08 CDT
  • Significant Decline in Female Numbers Coming in 2023 says Derrell Peel   Tue, 23 Aug 2022 09:48:22 CDT
  • USDA August Cattle on Feed Report Run-Down with Derrell Peel  Mon, 22 Aug 2022 10:14:46 CDT
  • Upcoming Webinar to Educate Cattle Producers about the Newest Pest Threatening the Industry  Fri, 19 Aug 2022 09:06:31 CDT
  • NCBA's Kent Bacus Says Beef Exports Looking Great in 2022- But There's Still Trade Challenges to Conquer  Thu, 18 Aug 2022 09:16:08 CDT



    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.


    Search OklahomaFarmReport.com

    © 2008-2022 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.