Beef Buzz News
Cattle Markets Mixed as we Wrap up The Year, Says OSU's Dr. Peel
Wed, 16 Dec 2020 18:48:17 CST
Cattle market prices have been scattered all about the boards as we wrap up a year no one wants to remember, said Dr. Derrell Peel, OSU Extension livestock market economist.
Ron Hays Beef Buzzes With Dr. Derrell Peel
We’ve have had very strong markets since Nov. 1 for our calves and lightweight cattle, he said. The bigger feeder cattle have been a little flatter.
Peel attributed the lower markets to higher feed grain prices with full feedlots.
We’re kind of wrapping up the end of the year and see where we start the new year, Peel said.
As he looks back on 2020 the OSU economist said it has been “all those words I am tired of using” to describe it.
The good news is meat demand has been strong through all this, Peel said.
We’ve learned some things about this industry and how we can be better prepared for challenges in the future, Peel said.
It’s never fun to go through these things but we did learn a lot, he said.
We’ll know what to look for in the future and be prepared for it, Peel said.
Prospects look pretty good for global beef exports in 2021.
I think we have a decent chance of stabilizing as we get the pandemic under control, Peel said.
Peel said many cattle producing are facing forage supply challenges in the new year.
Hay supplies are okay but, in some regions, it is very short, he said.
In Oklahoma we see a strong east-west demarcation between the haves and have nots, Peel said.
The La Nina is persistent and does raise some red flags, he said.
This is like the winter of 2010 and going into 2011 with the drought, Peel said.
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