Agricultural News
Drought Has Been a Game Changer for Cattle says Jim Robb, Livestock Market Information Center
Tue, 16 Aug 2011 16:09:31 CDT
The drought in Oklahoma has caused a series of changes within the cattle market. One of the biggest changes has been the moving of livestock off the ranch and onto feedlots earlier than expected. Jim Robb of the Livestock Market Information Center says this is one of many disruptions caused by the drought, but he is surprised there have not been more.
With the large numbers of cattle being moved into the marketplace in this kind of drought, Robb says you would expect a little more negative price impact. Robb says as we look forward to the upcoming Cattle on Feed report, we should be expecting record numbers when it comes to pulling of cattle to the Texas, Oklahoma, and New Mexico feedyards.
You can click on the LISTEN bar below to hear more from Jim Robb on these upcoming cattle reports and liquidation of the cow herd across the U.S.
According to Rich Nelson of Allendale, July Placements are expected to be 14.5% larger than last year. The extreme drought in the Plains was seen as the primary mover in higher placements. This overrode the small supply of available calves and feeders and even the negative margins from outgoing cattle. Losses of over $125 per head were seen on July marketings. This is three months in a row of over $100 per head feeding losses! Cattle placed in July will be marketed from December through March.
Allendale anticipates a Marketing total 3.7% lower than July of 2010. This number was adjusted lower due to one less weekday in July 2011 vs. 2010.
Total Cattle on Feed as of August 1 will be 7.1% larger than last year. The front end supply of cattle, those on feed for over 120 days, is seen 13% higher than last year.
The Beef Buzz is a regular feature heard on radio stations around the region 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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