Oklahoma feeder cattle public sale costs jumped sharply the week after Thanksgiving. Calf costs, specifically, had been $10-$15/cwt. increased and all lessons had been $6-$10 increased after Thanksgiving. A number of components contributed to the energy in feeder costs. Bettering Feeder futures costs, a stronger fed cattle market and restricted provides of feeder cattle all mixed to push costs increased.
Oklahoma feeder public sale volumes have been smaller 5 of the previous six weeks after being increased yr over yr all summer time and early fall. The quantity of feeder cattle in Oklahoma auctions final week was down 19.4 p.c in comparison with the identical week final yr.
Within the 16 weeks from July 1 by way of mid-October, the cumulative further feeder cattle quantity over final yr totaled 71.397 head. Since mid-October, feeder volumes have been bringing the cumulative whole since July 1 all the way down to 52,808 head. In different phrases, the cumulative whole of elevated early gross sales of feeder cattle nonetheless far exceeds the discount previously six weeks. Smaller volumes will doubtless persist for the remainder of the yr a minimum of.
I’ve pushed throughout a lot of the state in current weeks and it seems that most winter wheat is up with stands that change from spotty to good. The ultimate USDA Crop Progress report of 2022 was issued the top of November and confirmed that 95 p.c of Oklahoma wheat is up, equal the identical week final yr and one level increased than the five-year common.
The situation of Oklahoma wheat was rated at 12 p.c very poor; 12 p.c poor; 45 p.c honest; 30 p.c good and only one p.c wonderful. This reveals that the stands are fairly lackluster and virtually none are grazable or might be earlier than the top of the yr. Relying on moisture and temperature situations by way of December, some wheat could develop sufficient for turnout after January 1. All in all, wheat grazing might be very restricted and most grazing that does happen might be used to complement forage provides for animals available.
Cattle slaughter and beef manufacturing are tightening within the ultimate weeks of the yr. Whole weekly beef manufacturing was down 1.0 p.c in the newest weekly information. That is the most important weekly decline in weekly beef manufacturing for the reason that first few weeks of the yr.
The expectations are to start seeing constant week over week decreases in beef manufacturing. The latest weekly information confirmed the persevering with distinction in steer and heifer slaughter. Steer slaughter was down 6.4 p.c in comparison with the identical week final yr, whereas heifer slaughter was up 4.6 p.c.
Mixed steer plus heifer slaughter was down 2.1 p.c, contributing to the lower in weekly beef manufacturing. Whole steer plus heifer slaughter is up 0.8 p.c for the yr thus far.
Beef manufacturing in 2022 has additionally been boosted by elevated cow slaughter. Beef cow slaughter is up 12.1 p.c yr over yr for the yr thus far. Nonetheless, beef cow slaughter has been up solely about three p.c the previous two weeks, suggesting that herd liquidation could also be slowing down.
For the yr thus far, cull cow and bull beef manufacturing has been up 4.1 p.c yr over yr. Going ahead into the brand new yr, heifer and cow slaughter ought to decline thereby permitting whole slaughter and beef manufacturing to lower.
Supply: Oklahoma State College
