Oklahoma's Latest Farm
And Ranch News
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Beef Trade Update from OSU’s 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. Dr. Peel talks about the latest in the beef trade.
The latest trade data shows March beef exports down 8.2 percent year over year and down 5.9 percent for the first quarter of 2024. This follows a 14.3 percent decrease year over year in 2023 beef exports. Japan is the largest market thus far in 2024 with exports down 5.1 percent year over year in March and down 10.8 percent in the first three months of the year. Japan has a 22.7 share of total exports thus far in 2024. South Korea is the number two beef export market with a 21.8 percent share of the total. Beef exports to South Korea were down 13.7 percent in March and down 8.8 percent in the first quarter of the year.
Total beef imports in March were up 10.6 percent and are up 25.0 percent year over year in the first quarter of the year. This follows a 9.9 percent year over year increase in beef imports in 2023. Canada is the largest source of beef imports and was up 20.2 percent in March and up 12.8 percent for the first three months of the year. Brazil is the number two source of beef imports with March imports down 26.6 percent year over year and the first quarter total up 24.8 percent.
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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
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Podcasts From Oklahoma Farm Report and More | |
Two of our regular reports are also podcasts that you can subscribe to- Our daily Farm and Ranch News with KC Sheperd- available here on the Apple Podcast Platform
The second is our daily Beef Buzz with Ron Hays- available here on the Apple Podcast Platform
Periodically- we offer interviews on our Ag Perspectives Podcast series- this podcast is available here.
Ron has also has a series of podcasts from interviews with newsmakers at the Cattlemen's Congress- Click here or you can find them on your favorite Podcast platform- look for them by searching for Cattlemen's Congress Conversations.
We are making plans to jump back into regular installments of what has been called the Road to Rural Prosperity- a new name and fresh content is in the works- for now- click on the blue button below for one of our favorites that is a timeless classic.
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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, the Oklahoma Cattlemens Association, Invenergy Oklahoma 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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