Beef Buzz News
Cattle Prices to Improve in 2021 Says Katelyn McCullock, Livestock Marketing Information Center
Wed, 06 Jan 2021 08:23:24 CST
Katelyn McCullock, director and senior agricultural economist for the Livestock Marketing Information Center, expects 2021 to better for cattle producers than 2020 but there will still be a few hiccups along the way.
We’re characterizing 2021 as a different type of uncertainty, McCullock said.
Travel and dining are still no where close to normal and that could have an impact on the beef industry, she noted.
One of the measures we look at is weekly restaurant data that shows business is down 60 percent last week, she said.
Until that part of the beef demand complex perks up it may be difficult to match cattle supply with demand from a timing perspective, she said.
On a positive note, retail sales have continued to be very strong, she said.
Also, we’ve managed to avoid plant shutdowns the last half of the year and I would expect those types of disruptions to be behind us, she said.
We think 2021 will still show some lingering affects from the pandemic but we don’t expect any “black swan” events, she said.
From a price outlook standpoint, the livestock economist said prices should be good in 2021.
We’re expecting primary fed cattle prices to be about 7 percent higher on average throughout the year, she said.
For feeder cattle we expect in the first quarter to be similar to 2020 for the 7-800-pound animals, she said.
The next U.S. corn crop is expected to be large and as the growing season progresses, we’re expecting feeder calf prices to improve significantly, she said.
Overall, we’re expecting prices to be similar to the 2018 annual averages, she said.
Exports, the pandemic and drought will of course have an impact, but everything is predicated on the beef cow herd continuing to decline in 2021
From a total production standpoint, we’re expecting slaughter levels to be slightly below 2020 numbers which will lead to a drop in beef production of about one percent in 2021, McCullock said.
Click on the LISTEN BAR below to hear more comments from McCullock.
The Beef buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today’s show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Gene Editing Technology Could Soon Be Common Practice For Beef Cattle Industry Fri, 15 Jan 2021 08:08:55 CST
Seedstock Industry Undergone Many Changes in Last 20 Years, Says Jack Ward, American Hereford Association Thu, 14 Jan 2021 08:06:15 CST
2020 Taught Beef Producers a Valuable Lesson, Says American Angus Assoc. CEO Mark McCully Wed, 13 Jan 2021 10:42:47 CST
Angus Breeders Survived 2020 By Being Flexible And Quickly Adapting, Says CEO Mark McCully Tue, 12 Jan 2021 08:02:38 CST
Superior Livestock's Bell Ringer Sale Opens The Year With a Record Number of Cattle Offered Mon, 11 Jan 2021 08:45:57 CST
Oklahoma City's Central Location Helped Breed Association's Pivot Quickly When Denver Canceled, Says Shane Bedwell, American Hereford Association Fri, 08 Jan 2021 15:19:27 CST
Livestock Shows Offer "Eveball" Evaluation to Compliment Genetic Evaluation Thu, 07 Jan 2021 08:48:20 CST
Cattle Prices to Improve in 2021 Says Katelyn McCullock, Livestock Marketing Information Center Wed, 06 Jan 2021 08:29:06 CST
Limousin Breeders Excited to Display Cattle Genetics During Cattlemen's Congress Underway Now in Oklahoma City Tue, 05 Jan 2021 08:44:59 CST
With More Than 11,000 Head Entered, Cattlemen's Congress Livestock Show is Considered Essential to The Nation's Food Supply Tue, 05 Jan 2021 05:23:52 CST
With More Than 11,000 Head Entered, Cattlemen's Congress Livestock Show is Considered Essential to The Nation's Food Supply Mon, 04 Jan 2021 08:47:54 CST
New USDA Dietary Guidelines Good For Beef Industry, Says NCBA's Danielle Beck Thu, 31 Dec 2020 09:02:57 CST
NCBA's Ethan Lane Says There Are Some Positives to Having a Familiar Face Return to The USDA Wed, 30 Dec 2020 08:39:05 CST
NCBA's Ethan Lane Says Budget Bill Includes Several Good Things For Animal Agriculture Tue, 29 Dec 2020 08:34:38 CST
Budget and Corona Virus Aid Legislation Includes Additional Funds For Livestock Producers Mon, 28 Dec 2020 08:48:03 CST
Cattlemen's Congress Expected to Have a Huge Economic Impact Thu, 24 Dec 2020 08:17:54 CST
Cattlemen's Congress to Begin Jan. 2 in Oklahoma City Wed, 23 Dec 2020 07:58:47 CST
January Cattle Inventory Report Could Set The Stage For a Successful 2021, Says OSU's Derrell Peel Tue, 22 Dec 2020 08:08:22 CST
December Cattle on Feed Report Shows Market Wrinkles Have Been Mostly Erased Mon, 21 Dec 2020 10:34:04 CST
Beef Producers Seek New Promotion Opportunities And Will Sponsor NASCAR Race In February Fri, 18 Dec 2020 08:57:45 CST
New Study Shows Consumers Prefer Beef When Eating at Home During The Holidays Thu, 17 Dec 2020 11:00:59 CST
Cattle Markets Mixed as we Wrap up The Year, Says OSU's Dr. Peel Wed, 16 Dec 2020 18:53:58 CST
Lower Beef Cut Out Values Could Be Due to Seasonal Pressure, Says KSU's Dr. Glynn Tonsor Tue, 15 Dec 2020 08:36:10 CST
Hybrid Vigor Key For Commercial Cattle Producers, Says Veteran Texas Rancher Donnell Brown Mon, 14 Dec 2020 10:01:00 CST
Merck Animal Health Has New Technology to Optimize Value For Beef Cow Producers Fri, 11 Dec 2020 08:25:13 CST
Cattlemen's Congress Livestock Show to Crown First Ever National Champions For Open Class Heifer And Bull And Could Have $50 Million Economic Impact Thu, 10 Dec 2020 15:40:02 CST
OYE's Tyler Norvell Says They Are in Final Stages of Preperation For The Cattlemen's Congress in January Wed, 09 Dec 2020 10:46:25 CST
KSU Vet Dr. Jordan Gebhardt Talks About Bio Exclusion in The Feed Industry Tue, 08 Dec 2020 08:48:49 CST
Anti-Ag Animal Groups Keep Up Attacks During Pandemic But Message May Be Falling On Deaf Ears as Consumer Demand For Meat Increases Mon, 07 Dec 2020 08:15:54 CST
Anti-Animal Ag Groups Ramp Up Attacks During Pandemic Fri, 04 Dec 2020 08:40:31 CST
Adding Value To Cattle Pays Off at The Market Says Danny Jones, Superior Livestock Thu, 03 Dec 2020 08:41:06 CST
Tale of Two Different Feeder Cattle Markets This Fall Says Dr. Derrell Peel Wed, 02 Dec 2020 08:16:33 CST
2020 May End Being a Normal Year For Beef Production Says OSU's Dr. Derrell Peel Tue, 01 Dec 2020 08:42:29 CST
LMA's Chelsea Good Talks About How Auction Markets Have Handled This Challenging Year Mon, 30 Nov 2020 08:16:29 CST
Cattle Producers Have Found Unique Ways to Promote Beef During This Challenging Time Fri, 27 Nov 2020 08:24:41 CST