Agricultural News
Boxed Beef Prices at New Higher Plateau
Wed, 30 Mar 2011 6:36:45 CDT
Wholesale Boxed Beef Prices may have peaked, but that's not for sure, according to OSU Livestock Market Economist Dr. Derrell Peel. The Boxed Beef Carcass Equivalent price as reported by USDA peaked early last week around $1.89 a pound- backed off quickly during the week- but now is moving higher the first couple of days this week.
Peel says that tight supplies of available cattle will keep wholesale beef prices from making a rapid retreat in the near future, and he thinks we may be, for the time being, at a new higher than ever, price plateau.
Besides the status of wholesale boxed beef prices, we also talk with Dr. Peel about this week's grain supply and demand and planting intentions reports- which he says will signal a change in how we will look at the grain supply pipeline. Up to this point, we have focused on the old crop- and how to ration supplies between now and the next harvest. With the reports that will be out on March 31st, we will start thinking a lot more about the new crop that will be going into the ground and how it will impact grain stocks and prices in the coming year.
The Beef Buzz is a regular feature heard on radio stations around the state on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the listen bar below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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