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Beef Buzz News


Strong Demand Fueling Higher Beef Cattle Prices Says OSU's Derrell Peel

Tue, 06 Apr 2021 08:01:23 CDT

Strong Demand Fueling Higher Beef Cattle Prices Says OSU's Derrell Peel Strong demand is fueling higher beef cattle prices as we enter the spring months said Dr. Derrell Peel, OSU Extension livestock market economist.

Wholesale boxed beef prices are strong, and Peel said itís a combination of supply and demand factors.

Peel said demand for all the meats is strong right now, especially for beef.

Demand is definitely pulling these cattle markets ahead, he noted.

I think there is a fair amount of optimism built into the general economy as the vaccine rollout continues and moving forward with reopening the economy, Peel said.

From a beef standpoint, as we move into April itís becoming grilling season and that will boost retail grocery demand, he said.

High feed costs continue to cast a cloud over the cattle market, Peel said.

Itís going to continue to be a challenge, he said.

There really is no end in sight in terms of stronger grain prices with the latest USDA planting intentions report coming in less than expected, Peel said.

The OSU economist said it leaves questions about unaccounted for acres and will they come back into production.

Peel said there is a race between higher feed costs and better beef demand.

Obviously, the feeder cattle market is the most vulnerable, he said.

The other thing is, with corn prices advancing fast, and with wheat harvest coming on we may see feedlots switching to feeding more wheat, Peel said.

Click on the LISTEN BAR below to hear more comments from Dr. Peel.

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 todayís show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.


   
   

Ron Hays Beef Buzzes With Derrell Peel
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