In this latest Ag Perspectives Podcast- Senior Farm and Ranch Broadcaster Ron Hays talks with OKlahoma State UNiversity Extension Livestock Market economist Dr. Derrell Peel about the August Cattle on Feed Report that came out on Friday afternoon.
According to USDA- Cattle-on-Feed 101% of a year ago, placements were up two percent from a year ago and marketings four percent under that of one year ago.. Placements were higher by 3% from analyst’s estimate.
According to Dr. Peel- the key to the report were the number of lighter weight cattle that went into feedlots in the latest month. Cattle under 700 pounds that were placed were up by 9.5% from a year ago- while animals over 700 pounds that were placed into feedlots were 2.5% down. It’s all being driven by the drought.
Click on the Listen Bar below to listen to Hays and Dr. Peel as they discuss the Cattle on Feed Report, drought conditions, liquidation of herds and cattle prices and proftiability is headed.