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 said the cattle markets are better than ever at the moment.
“There is nothing negative about the market,” Rodenberger said. “It is positive. Old school- I am nervous when we get these levels, not to say we won’t get higher.”
Feeder cattle continue to get higher, Rodenberger said, and the calf market continues to move up as well.
“There is a demand for inventory,” Rodenberger said. “People want to keep inventory.”
While many producers have plenty of grass now because of recent rains, Rodenberger said those rains will need to continue, or the water is going to run out, and ponds will be empty again.
Rodenberger also said many people are buying replacement cows now that they have more grass.
“Just ride the ride, and it is a good ride right now,” Rodenberger said.
There are still plenty of cattle available for the packer now, Rodenberger said, but those feeder cattle numbers are going to continue to drop.
“The calf crop, 2023 going into 2024 will be less, and that is when we are going to see fewer feeder cattle available,” Rodenberger said. “We haven’t seen heifer retention yet, and that is what will maintain this market.”
