Oklahoma's Latest Farm
And Ranch News

Your Update from Ron Hays of RON
Tuesday, July 21, 2020
Boxed Beef Prices Sag Under Growing Supply and Summer Doldrums
Mondays, Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry. This analysis is a part of the weekly series known as the "Cow Calf Corner" published electronically by Dr. Peel and Dr. Glenn Selk. Today, Dr. Peel talks about how Boxed beef prices sag under growing supply and summer doldrums.

The Choice boxed beef price dropped to $200.47/cwt. last Friday, July 17, 2020; the lowest Choice boxed beef price since December 2017.  Both supply and demand factors are at work pushing wholesale beef prices lower.

Estimated beef production last week was 538.4 million pounds, 2.1 percent larger than the same week last year. Estimated cattle slaughter last week was 650,000 head, down slightly from 655,400 last year. The latest carcass weights have steer carcasses averaging 896 pounds, up 35 pounds year over year and heifer carcasses at 826 pounds, 34 pounds above the same time last year. Heavy fed cattle backed up in feedlots prevented the normal seasonal decline in carcass weights in April, May and June. In 2019, steer carcass weights declined from 896 pounds at the beginning of the year to a seasonal low of 842 pounds by the first week of June; a drop of 50 pounds. This year steer carcass weights were 896 pounds in June, down 16 pounds from 912 pounds at the beginning of the year. The lowest weekly steer carcass weight this year was 886 pounds in April before weights moved counterseasonally higher in May and June.
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Tim West
President/General Manager
Radio Oklahoma Ag Network

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Suite F
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Ron Hays
Director of Farm Programming
Radio Oklahoma Ag Network

405.473.6144