Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm Programming Radio Oklahoma Network  |  7401 N. Kelley Ave. Oklahoma City, OK 73111  |  (405) 841-3675  |  Fax: (405) 841-3674

advertisements
   
   
   
   
   
   
   

Agricultural News


After Unprecedented Strength, Wholesale Beef Prices Have Reached a Cliff, But is it Time to Panic?

Wed, 05 Jul 2017 11:50:55 CDT

After Unprecedented Strength, Wholesale Beef Prices Have Reached a Cliff, But is it Time to Panic?


These last few weeks, wholesale boxed beef market prices have begun to slide. Jim Robb, director of the Livestock Marketing Information Center, who works with land grant universities around the country looking at meat demand outlook, told Radio Oklahoma Ag Network Farm Director Ron Hays in a recent conversation, that this past week heading into the Fourth of July, prices went over a cliff.


“We lost $15 per cwt in the boxed beef wholesale market,” Robb reported. “That’s a precipitous decline, obviously. But not completely unusual.”


Recently, this market has been down as much as $20 and some change, Robb says. But he ensures, it is not time to panic. This time last year, it was again down around $16.50 per cwt. Robb makes the case that this level of decline is somewhat normal year to year. His concern is only that it has seemed to have happened so quickly after we have seen markets perform so strongly for so long now this year.


“We had been talking for weeks that the wholes market had not moved down very much and now that has really caught up with the live animal side of the market,” he said. “I don’t think we panic too much about the domestic beef demand component. It’s a concern but most of this story has been here in the short-term supply side.”


Listen to Jim Robb of the Livestock Marketing Information Center explain more about the sudden dip in wholesale boxed beef prices this past week, with Farm Director Ron Hays, on today’s Beef Buzz.


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.




   



   

Listen to Jim Robb of the LMIC describe the market situation in boxed beef trade with Ron Hays below
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Drought Conditions Continue to Choke Crop and Pasture Ratings in this Week's Crop Progress Report  Mon, 24 Jul 2017 17:11:31 CDT
  • OSU Animal Science Department Ranch Tour a Success, Ranchers Enjoy Lively Exchange of Ideas  Mon, 24 Jul 2017 16:32:28 CDT
  • Monday Market Wrap-Up with Justin Lewis  Mon, 24 Jul 2017 15:53:44 CDT
  • Cows Sell Steady to Higher on Monday at OKC West Livestock Auction in El Reno, Oklahoma  Mon, 24 Jul 2017 15:36:05 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Monday July 24, 2017  Mon, 24 Jul 2017 15:24:55 CDT
  • Ample Technical Assistance Funding Granted to Conservation, But NACD Dismayed Over EQIP Cuts  Mon, 24 Jul 2017 15:19:14 CDT
  • National Cattlemen's Beef Association Top Lobbyist Visits with OK Cattlemen's Association Members  Mon, 24 Jul 2017 14:57:01 CDT
  • Monday Afternoon Market Wrap-Up with Carson Horn   Mon, 24 Jul 2017 14:07:45 CDT

  • More Headlines...

    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com


       
       
    © 2008-2017 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup

    WebReady powered by WireReady® NSI