Agricultural News
USDA Inventory Report Confirms Moderating Herd Expansion in 2017, Expect Feeder Supply to Grow
Tue, 25 Jul 2017 12:43:33 CDT
Included in the three reports on the beef industry released last week by the United States Department of Agriculture, was the sometimes published/sometimes not published Cattle Inventory report. When there is room in the budget, the USDA will compile this report, says Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel, and 2017 was one of those years. Compiled at the beginning and middle of the year, the January report has already been filed and July presents a whole new set of numbers here midway through 2017. Farm Director Ron Hays of the Radio Oklahoma Ag Network, recently caught up with Peel for his interpterion of the numbers in this report.
Over the last few years, the USDA dropped this report in 2013, then reinstituted it in 2014 and 2015 - dropped it again in 2016 and brought it back yet again here in 2017. "It's been very frustrating the last few years," Peel remarked, insisting that the inconsistency of the reports diminishes its value and makes it harder to interpret.
"We can't compare to year ago numbers, but if you look at historically how the July numbers compare to the January numbers, we can get a little bit of information on the herd size out of that," Peel said, noting that the July numbers reveal the current inventory is at 4 percent above the January numbers. "Historically that number has averaged about 101 percent to 102 percent and if you go back at history, anytime that number has been over 102 percent - it says we're still in herd expansion. That's what we expected and this confirms that."
Overall, Peel says these reports just confirms common perceptions with no major surprises coming out of them. What he does say, though, is that the industry can expect to see a larger calf crop, due to increased heifer retention. He says that translates into larger feeder supplies into 2018.
You can listen to Hays speak with Dr. Peel about his interpretation of the Cattle Inventory report for July 2017, released last week by the USDA, 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.
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