By Robert Medley
The big beef market recovery may be underway.
Sales were up and so were prices at OKC West Livestock Market, an indicator that a major beef market recovery is underway during a pandemic that saw a disruption in the American food supply chain since march.
In March, when the COVID-19 pandemic shutdown affected production and America’s food chain service came to a standstill, prices dropped and sales slowed at OKC West, 7200 E
State Highway 66 in El Reno
Finally, the sales went up this week, reports director Bill Barnhart.
Optimism is up too, Barnhart said.
There were 7,000 head sold this week at OKC West, Barnhart said.
“Plenty of optimism among cattle buyers at the auction this week. Feeders were quoted 3.00-8.00 higher this week. The lighter receipts have no doubt helped to spur the market as buyers must compete for limited numbers of feeder cattle,” Barnhart reported.
Prices for fat cattle have remained steady and declines have slowed in the beef market.
“It’s been several weeks since we’ve been able to say that,” Barnhart said Wednesday.
Buyers pushed for quality cattle, and boxed beef ,“has finally slowed it’s decline,” Barnhart said. Some Fat cattle trading remained steady in the past two weeks.
“Maybe there is good reason for some optimism,” Barnhart said. “Let’s hope that low will hold and we can have a long recovery.”
In March sales were down.
Barnhart reported there were 3,100 head sold the week of March 23 as uncertainty set in. The livestock sales were limited to buyers and producers.
Precautions, meanwhile, are being taken with the pandemic.