Oklahoma's Latest Farm
And Ranch News
Tuesday, July 19, 2022

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Mid-Year Cattle Cycle Update with OSU's Derrell Peel
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 what he predicts willl be seen in the July cattle report which will be released by the USDA-NASS on July 22.

On July 22, USDA-NASS will release the July Cattle report with national estimates of cattle inventories by category along with the first estimate of the 2022 calf crop. With widespread drought conditions continuing in 2022, the focus will certainly be on the female side of the industry in terms of how much beef cow herd liquidation has occurred and how much more is ahead. What we know now is how much female slaughter has already occurred. Beef cow slaughter was up 14.6 percent year over year in the first half of the year.   This follows a nine percent increase in beef cow slaughter last year. The beef cow herd inventory is likely to be down by 2.5-3.0 percent in the mid-year inventory. This would be a July 1 beef cow inventory that is the smallest since 2015 or earlier.

Fed cattle slaughter was up 0.6 percent year over year in the first half of the year. However, fed steer slaughter was down 1.4 percent while fed heifer slaughter was up 3.8 percent year over year. Heifer slaughter in the first half of the year was 52.1 percent of the January 1 inventory of other heifers. That is the highest rate of heifer slaughter in the first half of the year since 2004 and has averaged 48.3 percent in the past fifteen years. Reduced beef heifer retention may lead to a decrease in the beef replacement heifer inventory of 2.5 percent or more.

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KC Sheperd visits with Dakota Moss of Livestock Risk Services. When the pandemic hit in 2020 the cattle markets along with the rest of the world suffered. Many farmers and ranchers altered their marketing plans on crops and livestock to try and prevent a loss in the down Covid markets. This led to cattle being held months longer than planned hoping for a better market. Unfortunately for many farmers and ranchers they had no choice but to sell much heavier cattle into a down market. Resulting in a lower $/cwt price and profits lost. Sheperd and Moss discuss some alternative options for producers with the Livestock Risk Protection program.

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Tim West
President/General Manager
Rural Oklahoma Networks



Mike Henderson
Director of Sales


KC Sheperd
Farm Director
Radio Oklahoma Ag Network

Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network