Peel Ranchers Need To Make A Drought Plan Now

With the prospects of drought conditions, livestock market economists are encouraging cattle producers to have a plan in place now if there is a reduction in forage supplies. Dr. Derrell Peel, Oklahoma State University Extension Livestock Market Economist, says drought conditions have continued to get worse cutting into the forage growing season.

“It’s going to be taking a noticeable bite out of our forage potential, both pasture and hay production for the year. And if we lose May and June in particular, that takes a serious hunk out of our total forage availability really for the next year.”

It may only be mid-May, but Peel says producers should make a plan now.

“Really look carefully at where they are right now in terms of any reserves they might have, what their local situation is in terms of potential for producing forage and really make a plan that covers most of the next year, not just the next month.”

Peel added from a broader market perspective, the cattle industry we may see some overall price impacts because of this year’s drought conditions. And he noted, depending on what happens with the cow herd, it may change the trajectory of the whole industry.

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