Oklahoma's Latest Farm
And Ranch News
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Tuesday, December 31, 2024
Happy New Years!!! We Are Back in 2025 on Thursday
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Dr. Derrell Peel Reviews Cattle and Beef Markets of 2024 |
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, Mark Johnson, and Paul Beck. Today, Dr. Peel discusses the year in review.
Looking back, 2024 was mostly a continuation of the story that has been developing since 2022. Tight supplies of cattle pushed cattle and beef prices higher to new record levels during the year. However, in some ways, 2024 was kind of a pause in the developing dynamics of the industry with more of a sideways move than noticeable progress to change the market situation.
Despite an expected 2024 calf crop down over one percent year over year and the sixth consecutive decrease in the total calf crop, feedlots were able to hold average monthly inventories fractionally higher compared to the year before. Total feedlot marketings in the past 12 months were down just 0.3 percent from the previous 12 months. Total feedlot placements were down 1.7 percent in the past year compared to the previous 12 months. Feedlots were able to hold inventories steady mostly due to continued heifer feeding in 2024. As of October 1, heifers still represented 39.7 percent of feedlot inventories, near the upper end of historical levels and well above levels that would indicate heifer retention. Additionally, feedlots held inventory levels by extending days on feed and slowing down the turnover rate in feedlots. Kansas feedlot data shows that days on feed for steers increased by 3.2 percent in the first ten months of 2024, adding 6 days to average on-feed time over the same period a year earlier.
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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.
They would like to thank all of you who participated in their 2024 Tulsa City Farm Show.
Up next will be the Oklahoma City’s premier spring agricultural and ranching event with returns to the State Fair Park April 3-4-5, 2025.
Now is the ideal time to contact the Midwest Farm Show Office at 507-437-7969 and book space at the 2025 Oklahoma City Farm Show. To learn more about the Oklahoma City Farm Show, click here.
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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.
The link below is one of our most recent podcasts- Ron spotlighting the Life and Times of Dr. Kim Anderson, who has just retired from OSU.
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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 Wheat Commission, 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
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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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