KC Sheperd, Farm Director, is back talking with Bob Rodenberger, a Stockman Oklahoma Livestock Marketing partner, as he gives the latest on the cattle markets.
Possibly due to recent rain, runs were lighter this week, the calf and feeder markets were fully steady, and fat cattle brought $1.90 per pound. “There is still a great demand for calves to go to wheat or on feed,” Rodenberger said.
He said that the feeder index closed at $251 yesterday. “Half of the feeder index is based on Northern markets which will be $10 above us,” Rodenberger reminded. “If you took the Northern cattle out, it would put us down in the $245 to $246 range, which is what our cattle are bringing.”
He said whether producers decide to wean their calves or sell them right off of the cow, they won’t go wrong at this time because prices are good for both.
Pending the upcoming election, he noted that lots of producers have been securing their LRPs before it happens. “I think that is smart because nobody knows what is going to happen one way or the other,” Rodenberger said. “I just know that we still have a good market now, and if you haven’t protected yourself, I would do that, then go to bed and sleep well at night.”
He anticipates that Oklahoma City will also experience lighter runs on Monday.
