Oklahoma's Latest Farm
And Ranch News
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Derrell Peel: Beef Replacement Heifers are Scarce |
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 scarcity of beef replacement heifers.
The average price of 500-pound steers in Oklahoma auctions in July was $283.68/cwt., up 48 percent over the price of $191.48/cwt. one year ago. This represents an increase in value of $461/head from $957/head to $1418/head over the same time last year. Higher calf prices are the market result of continually smaller cow herds and declining feeder cattle supplies.
The July Cattle report showed that cattle inventories are continuing to decrease in 2023. The total inventory of cattle and calves was 95.9 million head, down 6.7 percent from the recent cyclical peak in 2018, and just fractionally above the 2014 low. The July 1 beef cow herd was 29.4 million head, down 9.3 percent from the 2018 peak, and is 1.2 percent lower than the 2014 low. The 2023 July beef cow herd is the lowest in the entire data series for this report dating back to 1973. Estimated supplies of feeder cattle from this report are 34.4 million head, down 3.6 percent year over year. The 2023 calf crop is projected at 33.8 million head, down 1.9 percent year over year and down 2.5 million head from the 2018 peak. Feeder supplies will continue to shrink into 2024 at least.
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Sponsor Spotlight
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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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Cattle Industry Leader Bob Drake sits down and talks with Ron Hays about his lifetime of service in the cattle business. Drake has served as the President of the Oklahoma Cattlemen's Association, the last President of the old National Cattlemen's Association and Vice President of the Oklahoma Farm Bureau.
He loves politics and being a change agent for the cattle producer back up at the fork of the creek. Drake had a front row seat as the Beef Checkoff was approved by cattle producers and he believes it's way past time to find a way to get a second dollar at the national level.
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To hear this podcast, you can click here or tap below:
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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
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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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