Oklahoma's Latest Farm
And Ranch News

Your Update from Ron Hays of RON
Wednesday, June 2, 2021
Dr. Derrell Peel Says Meat Markets Are Hotter than Summer So Far
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 Mark Johnson. Today, Dr. Peel talks about the Super hot meat markets.

Protein markets are red hot. With the economy opening up and growing rapidly, meat markets of all types are enjoying strong demand. In numerous cases, wholesale prices for specific meat products are at record levels, exceeding the levels provoked by the pandemic disruptions one year ago; and unlike last year, lack of supply is not the issue. Year to date production of beef, pork and broilers is higher, not only compared to last year but also higher than 2019 levels.

Broiler breast meat price has been at record levels in May, fueled no doubt by the chicken sandwich wars in quick service restaurants (QSR).  Chicken leg and leg quarter prices have risen sharply since the beginning of the year. It is likely that export demand is helping to drive these markets. Chicken wing prices did not drop after the “Super Bowl Bump” but have continued to increase to record levels, passing the $3/lb. mark for the first time in the last month.

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At the 2021 Oklahoma Grain and Feed Association annual meeting on May 4th, we recorded the lunch time conversation between OGFA CEO and President Jeff Hickman and Oklahoma State University President Designate Dr. Kayse Shrum, who will officially become the 19th President of OSU on July first. Learn more about who Dr. Shrum is- personally and professionally- and what her early priorities will be when she takes the reins as President on July first.

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Tim West
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Ron Hays
Director of Farm Programming
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