Cash feeder cattle sold steady to $3 higher and the CME Feeder Cattle Index achieved a new record-high while the calf market rallied steady to $5 higher as supplies tighten and more buyers entered the market.
Jay O’Brien of Amarillo, who owns a ranch northeast of Clarendon, TX, with his children and grandkids, is the 2013 Stocker Award Winner. O'Brien also manages ranches in Texas and Colorado and says the thing he’s proudest of is that all the partnerships he’s formed over the years have continued. He credits the longevity of those relationships to everyone sharing “the same motives and incentives for the long haul.”
For the balance of 2013, analysts with the Livestock Marketing Information Center expect cull cow prices to decrease less than seasonally normal due to the reduced beef cow slaughter fueled by expansion plans.
Although beef cow slaughter through the front half of this year likely precludes herd expansion in the January 1 inventory, current market and forage conditions could prompt 2% growth in 2014, according to Derrell Peel, extension livestock marketing specialist at Oklahoma State University.
Dwindling cattle numbers, improved forage conditions and anticipated declines in feed costs continued to buoy the cash markets for calves and feeders last week. Yearling feeders sold steady to $2 higher. Calves sold unevenly steady, as much as $3 lower in the Southeast.
Will their be a butterfly at the end of the cattle industry's current metamorphism? Wes Ishmael explains that regardless of the end result, the consuming public still needs protein, which makes efficiency and product more important than ever.