From Staff Reports
The cattle market in Canadian County showed steady gain this week.
After months of economic downturn, the cattle market shows positive signs, reports Bill Barnhart, OKC West Livestock Market general manager in El Reno.
There were 7,400 head sold Monday through Wednesday, Barnhart reports.
“The cattle market roared back this week as buyers bid aggressively on this week’s offering,’ Barnhart reports.
Stocker cattle sold $2 to $5 higher per pound, “especially on weaned calves with shots,” Barnhart reports.
Feeder cattle gained $4 to $8 per pound with the largest increase on grass-fed cattle. Fat cattle traded at $1 to $2 higher than last week, the demand for feeders has been very impressive. Historically, low fat cattle prices and cheap product have cattle feeders optimistic about future sales, Barnhart said.
There were 5,900 head sold at the weekly auction Monday, July 27 to Wednesday, July 29 at OKC West Livestock Market in El Reno.
Cattle sold lower, by $2-$5 per pound, giving up much of the gain from last week, the market reports.
Sales hit 7,500 head by the end of the weekly auction Wednesday, July 15, an increase of 500 from the previous week’s sales. Prices have also improved.
During the last week of March, as uncertainty with the market and the pandemic set in, sales were at 3,100 head.
On July 8, the Market reported 7,000 sold and prices up.
In March, the COVID-19 pandemic shutdown affected beef production at plants nationwide.
Auctions for cattle are on a weekly schedule with cows on Mondays, stockers and calves Tuesdays and feeder cattle on Wednesdays.
The nationwide demand for beef will affect the market, Barnhart said.
Barnhart said due to COVID-19 the auctions were limited for producers during the first weeks of the pandemic, but the public is again allowed to attend and more people are showing up. Many people are wearing masks, he said.
The market is located at 7200 E State Highway 66.
