Agricultural News
Producers Pleasantly Surprised by Unexpected Increases in Cattle Prices, But How Long Will It Last?
Fri, 05 May 2017 12:55:08 CDT
Packers are chasing fewer market-ready cattle right now, which has in turn caused cattle prices to rise. Oklahoma State University Market Economist Dr. Derrell Peel told Radio Oklahoma Ag Network Farm Director Ron Hays that those in the cattle business have been pleasantly surprised to see these stronger cash cattle prices.
"We knew there was reason to have some strength in the markets this year from a supply standpoint," Peel said. "But what really is coming out of this that we didn't really see or know for sure before was the strength in beef demand, that has really been carrying this market. So, we continue to be surprised."
The big question that remains is - just how long can we expect this party to last?
"The supply situation will carry forward for a while although seasonably, we're going to move into larger slaughter numbers through May and June," Peel said. "So, we're probably going to see a seasonal peak in here somewhere, but at the same time, as long as the strength in demand is there, we can carry through this year with higher prices than we would have projected just a few weeks ago."
Listen to Dr. Peel and Hays discuss what's happening in the beef markets right now that is sparking unexpected price increases, on today's Beef Buzz. Click here to view today's Daily Livestock Report, referenced in today's show.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is 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.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
