(NAFB) – With the prospects of drought conditions, a livestock market economist is encouraging cattle producers to have a plan in place now if there is a reduction in forage supplies. Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio
The latest U.S. Drought Monitor map continues to show much of the western and southwestern United States experiencing extreme and exceptional drought.
Dr. Derrell Peel, Oklahoma State University Extension Livestock Market Economist, says drought conditions have continued to get worse as the drought is expanding in some areas and cutting into the forage growing season.
Peel says producers should make a plan now.
Colorado producers have reduced cow herds 14 percent because of the on-going drought in that state and Peel believes we could see more herd liquidations.
The weekly slaughter data for beef cows would suggest it’s increased in the last couple of weeks, according to Peel, who says there may be some rough patches in the market this summer.