Oklahoma's Latest Farm
And Ranch News
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The Herd Rebuilding Challenge with Derrell Peel
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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 challenges when it comes to rebuilding the cow herd.
There can be little doubt that the biggest issue in the cattle industry right now is the question of when herd rebuilding will begin. The challenge of herd rebuilding can be summed up with the following three questions.
What do we need to do?
Drought-forced herd liquidation due to roving drought from 2020-2022 has pushed the beef herd smaller than intended and smaller than it needs to be. The January 1 beef cow herd at 28.9 million head, is the smallest since 1962. The beef cow herd has continued to decrease in 2023 and will be smaller yet going into 2024.
Domestic and international demand for U.S. beef will support and encourage a significantly larger herd going forward. This will require increased heifer retention and reduced cow culling that will further squeeze cattle slaughter and beef production for at least 2-3 years. After record beef production in 2022, due to drought liquidation, beef production is falling in 2023 and expected to fall sharply for at least two more years. By 2025, beef production is forecast to be down 15-16 percent from the 2022 level. This will be the lowest level since 2015 and possibly the lowest level since 1993. Herd rebuilding will be needed and encouraged by the market.
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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
National Livestock was founded in 1932 in Oklahoma City. National’s Marketing Division offers cattle for sale weekly at the Oklahoma National Stockyards in Oklahoma City. The Finance Division lends money to ranchers across several states for cattle production. The Grazing Division works with producers to place cattle for grazing on wheat or grass pastures.
National also owns and operates other livestock marketing subsidiaries including Southern Oklahoma Livestock Auction in Ada, Oklahoma, OKC West Livestock Market in El Reno, Oklahoma, and the nation’s premier livestock video sale, Superior Livestock Auction. National offers customers many services custom made for today’s producer. To learn more, click here for the website or call the Oklahoma City office at 1-800-310-0220.
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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.
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, Oklahoma Pork Council, the Oklahoma Cattlemens Association, and KIS Futures for their support of our daily Farm News Update.
For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!
We also appreciate our Market Links Sponsor - OKC West Livestock!
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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