Oklahoma's Latest Farm
And Ranch News
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The Ground Beef Market Gets Squeezed |
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 ground beef market.
Total beef production in the U.S. is down 5.2 percent year over year through the first three quarters of the year. Nonfed beef production includes beef from cows and bulls and makes up an average of 16 – 17 percent of total beef production over time. Nonfed beef production has averaged 16.5 percent of total beef production thus far in 2023 and is down 6.1 percent for the year to date.
Through the end of September, total cow slaughter is down 5.4 percent with a 4.4 percent increase in dairy cow slaughter partially offsetting a 13 percent year over year decline in beef cow slaughter. Cow carcass weights are down as well, averaging 3.8 pounds lighter this year compared to 2022. Bull slaughter is down 6.1 percent year over year through September and bull carcass weights are down by 5.6 pounds compared to one year ago. Bull beef makes up an average of 10 percent of total nonfed beef.
Nonfed beef is used for a variety of products including muscle cuts, sausage products and a wide variety of processed beef products but the largest use is for ground beef production. Nonfed beef is characterized by 90 percent lean trimmings (90s), which are combined with fatty trimmings from fed cattle, characterized by 50 percent lean trimmings (50s) to make ground beef. These trimmings are the basis for the majority of hamburger used for food service, especially quick service restaurants (QSR) and some retail grocery ground beef. Retail grocery ground beef often includes primal specific grinds, such as ground round, ground chuck, etc.
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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
Midwest Farm Shows is proud to produce the two best Farm Shows in the State of Oklahoma annually- the Tulsa Farm Show each December and the Oklahoma City Farm Show each April.
The Tulsa Farm Show is Oklahoma’s premier agricultural and ranching event- and returns to the SageNet Center (Expo Square) December, 7-8-9, 2023.
Now is the ideal time to contact the Midwest Farm Show Office at 507-437-7969 and book space at the 2022 Tulsa Farm Show. To learn more about the Tulsa Farm Show, click 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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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.
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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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