Cattle market receives ‘pleasant surprise’

“We’ve seen, by and large, stronger than expected prices much of the year,” says Peel.

After heavy losses in 2016, the cattle market received a ‘pleasant surprise’ in 2017, according to Derrell Peel, Breedlove professor of Agribusiness and Extension Livestock Marketing specialist, Oklahoma State University.

“We’ve seen, by and large, stronger than expected prices much of the year,” says Peel.

Stocker and feeder operator Diane Heitschmidt of R&D Cattle, Nazareth, Texas, is relieved for the “pretty decent recovery” in 2017. “It has been a very good year for us. Last year was the bloodbath in the cattle business, like we have never seen before,” says Heitschmidt, who began running cattle with her father in the 1980s. “There were cattle coming out of the feed yard losing $500 to $750 a head. It was just horrendous. Thankfully, prior to that, in 2014, we had really good profits—cattle making $500 to $600 per head. And then we had the bad break in 2015/2016 and that’s where the huge losses took place.

“I don’t think most people have recovered over the loss of 2015/2016. But it has been a very good year.”

In the above video, Peel, who spoke October 20, 2017, at the Rural Economic Outlook Conference at Stillwater, Okla., discusses the current and upcoming cattle market.

See Stronger than expected prices round out year, aid in recovery, http://bit.ly/2Al2WOc

 

TAGS: Prices Outlook
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