Oklahoma's Latest Farm
And Ranch News
Thursday, February 3, 2022
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CattleFax Forecasts Positive Profitability Trends in 2022
The popular CattleFax Outlook Seminar, held as part of the 2022 Cattle Industry Convention and NCBA Trade Show shared expert market and weather analysis yesterday. Cattle price and profitability trends for producers are pointed in the right direction, even as challenges and uncertainty persist with continued disruptions from the pandemic. While issues around labor and packing capacity have lingered, both are expected to improve in the year ahead. These expansions in capacity combined with strong global and domestic consumer beef demand suggests increased profitability across segments, signaling a market that is healthier and more stable in the year ahead, according to CattleFax.

Kevin Good, vice president of industry relations and analysis at CattleFax, reported that U.S. beef cow inventories have fallen more than 700,000 head from last year and are off nearly 1.6 million from cycle highs. This year, the beef cowherd will near 30.1 million head.

“Drought, market volatility and processing capacity challenges affected 30% to 40% of the cowherd over the last year," Good said. "Without an improvement in weather and profitability, at least 250,000 more head will be liquidated in 2022.

The feeder cattle and calf supply will be 675,000 head smaller than last year, totaling 25.5 million head. Fed cattle slaughter will decline 400,000 head lower compared to last year, at 25.7 million head. Commercial beef production will contract over the next several years starting with a 2% decline in 2022.

We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Ag Network weekdays-

if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
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Rural Oklahoma is full of some of the greatest success stories throughout the entire state and is a big reason why Oklahoma is on track to become a top 10 state. 
The Road to Rural Prosperity dives into these stories, bringing you insight into the great things happening in and to rural Oklahoma. We will bring you stories covering rural life, agriculture, energy, healthcare, tourism, and politics affecting rural America. 
The Road to Rural Prosperity is here to tell stories about rural America, for rural America.
Our Latest RRP is an end of year conversation between Oklahoma Third District Congressman Frank Lucas and Radio Oklahoma Ag Network Senior Farm/Ranch Director Ron Hays.
They talk about the recently passed extension of the Livestock Mandatory Reporting Measure as well as the Cattle Contract Library Act of 2021, the continued wait on the US Department of Justice investigation into the major meat packers, Congressman Lucas' work on the Science Committee, his continued intentions to return to the House Ag Committee in time to be a part of writing the next Farm Bill and a comparison of Congress when he first arrived in Washington in the mid 1990s and today.
 
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Reach Out To Us:
Tim West
President/General Manager
Radio Oklahoma Ag Network

2401 Exchange Avenue,
Suite F
Oklahoma City, OK 73108

405.317.6361
Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
OklahomaFarmReport.Com

405.473.6144