Market Watcher Derrell Peel Looks Back on the Remarkable Success of the Beef Business in 2017Thu, 07 Dec 2017 10:58:18 CST
As we come to the final weeks of the year, Radio Oklahoma Ag Network Farm Director Ron Hays took a moment to sit down with Extension Livestock Market Economist at Oklahoma State University Dr. Derrell Peel, to review the cattle market over the past calendar year in 2017. For the most part, Peel says 2017 has been a pretty good year for the cattle industry.
“Beef markets have been remarkably strong this year - we describe it as a bit of a surprise,” Peel said, adding that a similar story has played out this year in the feedlots as well. “Feeder cattle markets have also done very well this fall. We’ve seen relatively very little seasonal pressure. Feedlots have had a lot of incentive to feed cattle and keep feedlots full. They’ve continued to move cattle through pretty quickly. And, on the lightweight end, there’s been good stocker demand this fall, too.”
According to Peel, boxed beef prices have backed off their highs seen during early November but still seem to be holding relatively strong. Fed cattle, also, have done well in the same situation - sliding off early highs from last month yet remaining fairly strong here near the end of the year. The Livestock Marketing Information Center also reported recently that producers in the cow/calf sector were making money contrary to prior expectations that 2017 would be a breakeven year at best. The only thing that has really stood in the way of producers has been challenges with establishing wheat pasture, hindered by a very dry November. Fortunately, though, for stocker producers with cattle to feed, there is an abundance of other forages. Peel says quite a bit of pasture was carried over from the summer and there is plenty of hay available.
“In general, I think there’s lots of stocker cattle out there,” Peel said. “But I think producers are having some management challenges to deal with these variable conditions this fall.”
Listen to Peel and Hays as they look back on the cattle business over the past year, on today’s Beef Buzz.
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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