Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   

Agricultural News


Cattle and beef markets higher so far in 2014

Mon, 21 Apr 2014 10:05:33 CDT

Cattle and beef markets higher so far in 2014
   

by Derrell S. Peel, Oklahoma State University Extension Livestock Marketing Specialist

The first quarter of 2014 saw unprecedented prices for all classes of cattle and beef. Retail beef prices moved sharply higher in March for both Choice and All Fresh beef. The March retail Choice price was up 6.7 percent over December levels while the All Fresh retail price was up 6.5 percent compared to December. The Choice retail beef price was up 8.7 percent year over year and the All Fresh retail beef price was up 9 percent from one year ago.

Retail beef prices did not advance as much as wholesale values in the first quarter of 2014. Choice boxed beef price was up 19.6 percent over December, 2013 levels while Select boxed beef was up 23.7 percent. Compared to one year ago, Choice boxed beef price was 23.3 percent higher and Select boxed beef price was up 21.5 percent from year earlier levels. Boxed beef prices have been much more volatile and have increased more than retail beef prices so far this year. This indicates that retail margins have been squeezed and that wholesale price increases have not yet been fully passed on to retail markets.

Fed cattle prices increased 14.4 percent from December to March. March average fed prices (5-Mkt) were 18.9 percent higher than March, 2013 levels. Larger increases in boxed beef prices compared to fed cattle prices suggests that packer margins generally improved over the period. However, the extreme volatility in boxed prices meant that packer margins were similarly volatile. Choice boxed beef dropped to roughly $226/cwt. currently, suggesting packer margins are in the red and implying more pressure on fed cattle prices. Reduced volume continues to plague packers. Overall steer and heifer slaughter is down 5.5 percent for the year to date with steer slaughter down 3.5 percent and heifer slaughter down 8.6 percent.

700-800 pound steers (Oklahoma market average) were 6.7 percent higher in March compared to December and were up 27 percent year over year from March, 2013. Feedlots enjoyed better margins in the first quarter of 2014-the best in many months. However, high feeder cattle prices and seasonally weaker fed prices are likely to erode feedlot margins through the summer and may temper feeder cattle demand in the second and third quarters. Developing corn market conditions could have a big impact on feeder markets. 400-500 pound steer prices were up 8.7 percent from December through March. These calf prices are up 27.5 percent compared to the same period last year despite lingering drought conditions in many regions that is tempering summer grazing demand.

Cull cow prices in March were up 21.6 percent from December and up about the same amount from one year ago. Though herd expansion plans remain tenuous in some regions due to drought conditions, beef cow slaughter is down 9.5 percent for the year to date, with total cow slaughter down 9.8 percent year over year. In the last five weeks, beef cow slaughter has been down 11.7 percent compared to last year. This level of cow slaughter decrease is consistent with modest herd expansion in 2014, if current beef cow slaughter rates can be maintained.

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • September 29, 2022, Market Wrap-Up with Justin Lewis  Thu, 29 Sep 2022 15:20:31 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2 p.m. September 29, 2022  Thu, 29 Sep 2022 15:20:00 CDT
  • ARA Commends FMCSA Seasonal Ag CDL Reforms  Thu, 29 Sep 2022 14:50:35 CDT
  • Secretary Ryan Walters Discusses Critical Topics Related to Oklahoma Education  Thu, 29 Sep 2022 14:48:36 CDT
  • Congressman Frank Lucas Works to Exclude Farmers and Ranchers from SEC Climate Disclosure Rulemaking  Thu, 29 Sep 2022 13:17:33 CDT
  • Register for Free Virtual Stockmanship & Stewardship Event   Thu, 29 Sep 2022 10:20:27 CDT
  • This Week's Drought Monitor Shows Drought Conditions in Oklahoma Continuing to Rise   Thu, 29 Sep 2022 10:13:33 CDT
  • Six More Major Players Join "Farmer-centric" Research on Biologicals  Thu, 29 Sep 2022 09:40:23 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.
       

       

    Search OklahomaFarmReport.com

    © 2008-2022 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.