Drought relief brings increase in cattle market

ENID, Okla. — The easing of drought conditions across northwest and central Oklahoma is allowing cattle ranchers to begin rebuilding their herds. The cattle market is seeing a slow and slight increase over years past, where producers faced high grain prices and extreme drought conditions. According to a Cattle on Feed report by the National Agricultural Statistics Service, during January both cattle head marketed and placed into feedlots were well above a year ago. For the month of January, the surveyed feedlots, with 1,000 head or larger capacity, marketed 10.2 percent more animals than a year ago and on a daily average basis the increase was 4.9 percent. Cattle placed into feedlots during January were up 11.4 percent year-over-year. Profit for fed steers and heifers sold during January was an economic driver for the numbers. Total capacity of U.S. feedlots with over 1,000 head capacity was 17.3 million head as of Jan. 1, 2017, an increase of 200,000 animals compared to a year earlier. Northwest Stockyard Feed Yard Manager Jeff Crawford said the cattle market this year…

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