KC Sheperd, Farm Director, is back talking with Bob Rodenberger, a partner with Stockman Oklahoma Livestock Marketing, as he gives the latest on the cattle markets.
Rodenberger is grateful for the recent moisture in Oklahoma and said the snow is a “Godsend” for wheat pasture. The weather did impact auction traffic this week, as conditions made it hard for people to get around.
The feeder market, Rodenberger said, has run into a “stall” mode this week.
“We are seeing some pullback on the choice and prime products, and I noticed cold storage was as big as we have had it in a while,” Rodenberger said.
Rodenberger said the packers are building up their warehouses for down the road when it looks like we will be light on fat cattle. Everything is setting up to be positive for the cattle market, Rodenberger said, but it will take some time to see who plays what cards.
“I know people don’t like to hear it, but it is a poker game, and we are in a stalemate right now, and so until we get to the position that weather clears up, they need feeder cattle, we are going to kind of to stay about where we are for a while, and then we will be back in where there will be some demand for these feeders,” Rodenberger said.
There is a lot of optimism in the beef industry, as prices are high and moisture is a lot better than it was a few months ago.
For any Questions for Bob Rodenberger at Stockman’s, see their contact info below: