Agricultural News
LMIC's Jim Robb Says Optimism Returning to the Marketplace As Prices Rise Above Year-Ago Levels
Wed, 09 Aug 2017 11:35:27 CDT
Jim Robb is executive director of the Livestock Market Information Center located in Denver, working with land grant universities across the country analyzing the cattle and beef markets. Some of his most recent work, though, has led him to take a midyear look at stocker and calf prices nationally. He told Radio Oklahoma Ag Network Farm Director Ron Hays that in the Southern Plains, prices are looking very solid, especially compared to last fall.
"We've seen a strong run up since last October/November, in calf and yearling prices," Robb said. "Clearly underpinning that has been the turnaround and the very strong profitability in the cattle feeding sector. That has spilled back over, especially in the second quarter of this year in to calf and yearling prices."
On the average, there are still some year-over-year declines in the market. But, aside from a few markets in the very Northern Plains, Robb says calf and yearling prices in almost every US market are above year-ago levels during recent weeks. He insists this dynamic has been largely supported by strength of fed cattle. As long as that sector remains strong, he believes prices for calve and yearlings will continue to maintain their strength as well.
"This is a market that looks quite a bit different than last year," he remarked. "We could easily have calf prices this fall $8 to $12 per cwt in the Southern Plains above last fall. Yearling prices probably stay somewhat above last year. That's probably not something we expected six months ago."
Listen to Hays speak with Robb about current market dynamics that have lifted calf and yearling prices above year ago levels and his outlook for markets this coming fall, 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.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
