Oklahoma's Latest Farm
And Ranch News
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Beef and Cattle Trade Responds to Cattle Market Conditions |
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 the latest cattle market trends and conditions.
Cattle and beef markets are undergoing a sharp transition in 2023 with ever-tighter cattle numbers, declining beef production and sharply higher cattle and beef prices. These market conditions are expected to impact international trade of U.S. cattle and beef. Reduced beef supplies and higher prices are projected to lead to reduced beef exports and increased beef imports. The strength of the U.S. dollar and the impacts of exchange rates may further exaggerate or mute these underlying market forces. The relatively strong dollar in recent months has tended to dampen beef exports and support increased imports. Unique market factors in specific countries will also impact trade flows in particular markets. The most recent trade data confirms that the expected impacts are indeed developing.
Beef exports in the latest data for May are down 19.9 percent year over year. Total beef exports for the year to date are down 11.4 percent compared to the record pace in 2022. Beef exports began to weaken in late 2022 and have been down year over year each month for the past seven months. Beef exports to Japan were down 36.4 percent year over year in May and are down 13.9 percent for the January to May period compared to last year. Exports to South Korea were down 14.0 percent in May contributing to an 11.3 percent decrease year over year thus far in 2023.
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We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Ag Network weekdays-
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
The Oklahoma Agriculture Mediation Program knows this is a hard time for farmers and ranchers. We want you to know we are still open, and we are still here for you. The Ag Mediation program is a free service that provides mediation to agriculture producers who may need help with ag-related disputes.
At Oklahoma Ag Mediation, we have been helping people in agriculture resolve conflicts since 1987. We know firsthand about working together to resolve conflicts, so you don’t have to go through the court systems. Let our professional mediators help you. Mediation is allowed for lease issues, farmer/neighbor disputes, family farm transitions, and more. These services are available at no cost for Oklahoma farmers and ranchers in all 77 counties. For more information, you can go to ok.gov/mediation, or give us a call at 800 248 5465.
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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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Our thanks to Midwest Farms Shows, P & K Equipment, Oklahoma Farm Bureau, Oklahoma Ag Mediation Program, Great Plains Kubota, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Union Mutual Insurance, the Oklahoma Cattlemens Association, and KIS Futures for their support of our daily Farm News Update.
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We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
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God Bless!
Reach Out To Us:
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Tim West
President/General Manager
Rural Oklahoma Networks
405-317-6361
***************
Mike Henderson
Director of Sales
405-615-4922
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KC Sheperd
Farm Director
Radio Oklahoma Ag Network
405-443-5717
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Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
405.473.6144
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