Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

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

  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Wednesday, April 25, 2018  Wed, 25 Apr 2018 15:23:40 CDT
  • ARC Improvement and Innovation Act Introduced by Sens Thune, Brown Wins NCGA's Endorsement  Wed, 25 Apr 2018 14:16:16 CDT
  • Wednesday Market Wrap-Up with Justin Lewis  Wed, 25 Apr 2018 14:09:03 CDT
  • Wednesday Afternoon Market Wrap-Up with Carson Horn   Wed, 25 Apr 2018 14:01:30 CDT
  • Senate Commerce Approves Milestone Agricultural Broadband Bill to Improve Rural Connectivity  Wed, 25 Apr 2018 13:52:40 CDT
  • Cattlemen Invite President Trump and Vice President Pence to Survey Wildfire Damage in Oklahoma  Wed, 25 Apr 2018 13:16:20 CDT
  • Farmers Give a Big Thumbs Up to a 2018 Omnibus Provision Nixing DUNS and SAM Requirements  Wed, 25 Apr 2018 12:03:17 CDT
  • National FFA Presents Bill to Amend Federal Charter to Strengthen Industry Ties and Reflect Growth  Wed, 25 Apr 2018 11:53:16 CDT

  • 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.