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


LMIC's Jim Robb Highlights the Dynamics that Supported Better Than Expected Cattle Markets in '17

Mon, 08 Jan 2018 11:37:11 CST

LMIC's Jim Robb Highlights the Dynamics that Supported Better Than Expected Cattle Markets in '17


Radio Oklahoma Ag Network Farm Director Ron Hays recently looked back on 2017 with Jim Robb of the Livestock Marketing Information Center, who says this past year turned out to perform much better than most in the agriculture industry would have anticipated.


“It turned out to be a year where, especially in the Fourth Quarter of 2017, the market was stronger than anticipated on the cattle side, supported by a stronger than anticipated beef market,” Robb said. “The wholesale beef market was really the driver behind that. Everything went right that we could have imagined in 2017 compared to 2016.”


According to Robb, demand for beef significantly outpaced predictions both domestically and internationally, particularly in the Asian markets like South Korea where he says the beef industry made deep inroads with this past year, taking away some of its market share from Australia. The fact that export levels stayed consistently stable throughout year, certainly impressed Robb, compared to other protein products that struggled during the summer months. Even in spite of new tariffs on some beef exports to Japan, that market showed remarkable resilience in 2017 - and enjoyed a strong economy for the first year in many, as mirrored in the US where he says domestic grocers played the beef market to their mutual advantage, featuring beef products up until the week before Thanksgiving.


“Looks like a record year,” he said. “We anticipated a good year but the price we’ve been able to sell the product for has certainly added more than we thought to the total value of beef exports. Plus, demand coming from the retail sector was very competitive and was a key component to the demand for wholesale beef to be strong - which then fed through to packers’ demand for cattle, fed cattle being strong - and came right back to calf and yearling prices.”


Listen to Robb and Hays reflect on the dynamics that factored into the better than anticipated cattle market of this past year, 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 Robb and Hays reflect on the dynamics of last year's better than anticipated cattle markets
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • A Pair of Oklahomans Show Grand Champions at 2018 National Western Junior Market Show  Sat, 20 Jan 2018 21:57:42 CST
  • Extreme Fire Danger Alert in Place for Southwestern Oklahoma this Weekend  Sat, 20 Jan 2018 10:07:23 CST
  • Wheat Grower President Decrys Government Shutdown- Tells Congress to Do Its Job  Sat, 20 Jan 2018 10:02:15 CST
  • Secretary Perdue Outlines USDA Services in the Event of a Government Shutdown  Fri, 19 Jan 2018 21:13:34 CST
  • Survey: Nearly Half of Americans Support Banning Slaughterhouses Yet 90% of Population Eats Meat  Fri, 19 Jan 2018 16:22:25 CST
  • Is the Cotton Market Headed for a Boom or Bust? Economist John Robinson Crunches the Numbers  Fri, 19 Jan 2018 15:53:37 CST
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, January 19, 2018  Fri, 19 Jan 2018 15:10:16 CST
  • Friday Market Wrap-Up with Justin Lewis  Fri, 19 Jan 2018 14:37:29 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

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

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

       
       
    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.