Cattle Markets Not Expected to Improve as Seasonal Demand Shifts into Lower Gear Heading into FallTue, 10 Sep 2019 10:22:57 CDT
It has been a bumpy ride lately for the cattle markets in recent weeks. Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel says despite some slightly more encouraging numbers out from the US Meat Export Federation somewhat concerning though it may be, the shift in seasonal demand is likely to further complicate the current situation. In an interview this week, Peel touched on some of the contributing factors that are affecting the weakening markets with Radio Oklahoma Ag Network Farm Director Ron Hays.
“It’s pretty tough for cattle markets right now. There’s just a lot of things biting at this market right now,” Peel said. “The markets in general are on the defensive because of a lot of broad-based unrest in the US and global economy.”
Add to that the recent Tyson packing plant fire and the lingering uncertainty associated with the feed markets and the corn crop and Peel says overall, both the futures and cash markets are simply feeling a bit skittish. As fall approaches, beef demand will shift focus from middle meats popular during the summer grilling season to end meats like pot roast and ribs that are favored more during the cooler months.
“So, there’s always things going on. Some (products) are going up, some are going down,” he said. “But, overall, we would think of this as a little weaker demand when you take that summer grilling season away.”
Listen to Peel’s full analysis with Hays for more of his insights into the beef markets and his outlook on producer profit opportunities this 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.
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