Oklahoma's Latest Farm
And Ranch News
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Modest Herd Expansion Possible Next Year, says Derrell Peel | |
Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry as part of the weekly series known as the “Cow Calf Corner” published electronically by Dr. Peel and Mark Johnson. Today, Dr. Peel talks about cattle numbers.
For the second time in a decade, drought has pushed cattle numbers in the U.S. lower than planned and lower than needed to meet the demands of the market. Figure 1 shows how the current situation is similar to the beginning of the previous low in beef cow numbers.
Cattle prices are trending higher, starting to increase much as they did in 2013 prior to the herd rebuilding that commenced in 2014. However, while drought has diminished in much of the country, important beef cattle regions in the central and southern plains that are still in drought limit how the cattle industry is able to respond. Beef cow slaughter is falling so far this year, usually the first sign of ending liquidation and stabilizing the cow herd. However, with the year more than one-third over, cow slaughter is down about 11 percent year over year and that is not enough of a decrease to ensure the end of herd liquidation. In 2014, beef cow slaughter dropped just over 18 percent from the previous year to put the brakes on herd liquidation. I suspect that the ongoing drought is masking continued liquidation in some areas up to this point. While signs are encouraging that the drought will continue to fade through the year, more beef cow herd liquidation is likely in 2023.
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if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
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Sponsor Spotlight
Oklahoma AgCredit supports rural Oklahoma with reliable and consistent credit, today and tomorrow. We offer loans for land, livestock, equipment, operating costs and country homes (NMLSR #809962) to farmers, ranchers and rural businesses across 60 counties. As a cooperative, we are owned by the members we serve. Through our Patronage Program, we have returned more than $74 million to our members since 1997.
For more information on our services or to find a location near you, visit our website here.
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Rural Oklahoma is full of some of the greatest success stories throughout the entire state and is a big reason why Oklahoma is on track to become a top 10 state.
The Road to Rural Prosperity dives into these stories, bringing you stories covering rural life, agriculture, energy, healthcare, tourism, and politics affecting rural America.
The Road to Rural Prosperity is here to tell stories about rural America, for rural America.
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Since the legalization of Medical Marijuana in Oklahoma with State Question 788- criminals have flocked to the state to set up illegal grow houses because of cheap permits, cheap land and lax rules allowing them to get into the business of growing marijuana in Oklahoma- supposedly for the in state Medical Marijuana market.
Ron Hays talks with Oklahoma Bureau of Narcotics spokesman Mark Woodward about how these enterprises have invaded Oklahoma- the magnitude of the current problem and how the state is pushing back on thousands of bad people who have set up shop in the state- with the hope to reduce the number of these operations dramatically in the days to come. It's a huge problem all across rural Oklahoma but Woodward believes progress is being made to reign in these illegal marijuana farms.
Search for Road to Rural Prosperity and subscribe on your favorite Podcast platform.
To hear this podcast, you can click here or tap below:
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God Bless!
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Tim West
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405-317-6361
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Radio Oklahoma Ag Network
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Radio Oklahoma Ag Network
405.473.6144
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