Oklahoma's Latest Farm
And Ranch News

Your Update from Ron Hays of RON
Tuesday, August 17, 2021
Dr. Derrell Peel With A First Look at Fall/Winter Stocker Grazing
According to Dr. Peel, current market conditions provide insight into fall and winter stocker grazing prospects. Feeder cattle auction prices show the current value of gain. For the last four weeks, the average price of 450 lb., medium/large no. 1 steers was $186.08/cwt. and the price of 750 pound steers was $156.31/cwt. This results in a value of gain $1.12/lb. on 300 pounds of gain. Values of stocker gain are higher this year and reflect the increased feedlot cost of gain due to high feedgrain prices. Stocker value of gain is expected to remain elevated in the coming months. The value of gain reflects the broad market environment for adding weight to feeder cattle. Actual profitability will , of course depends on actual purchase and sale prices and production costs for stockers.

Feeder futures prices at any point in time provide an indication of feeder cattle prices later. For next spring, the current March Feeder futures price is around $166 - $167/cwt. Average March Oklahoma basis for 750 pound steers is about $2.00/cwt. resulting in a current estimated March price of $168 - $169/cwt. This is well above the current price of 750 pound steers and reflects the optimism baked into future cattle market expectations. Of course, futures prices change daily and the only way to assure the current price level is to take a position on feeder futures or options.

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Reach Out To Us:
Tim West
President/General Manager
Radio Oklahoma Ag Network

2401 Exchange Avenue,
Suite F
Oklahoma City, OK 73108

405.317.6361
Ron Hays
Director of Farm Programming
Radio Oklahoma Ag Network

405.473.6144