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DROUGHT Market and Management Considerations

DROUGHT Market and Management Considerations. Derrell S. Peel Livestock Marketing Specialist. Livestock Marketing Information Center Data Source: USDA-AMS. Livestock Marketing Information Center Data Source: USDA-AMS. Livestock Marketing Information Center

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DROUGHT Market and Management Considerations

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  1. DROUGHT Market and Management Considerations Derrell S. Peel Livestock Marketing Specialist

  2. Livestock Marketing Information Center Data Source: USDA-AMS

  3. Livestock Marketing Information Center Data Source: USDA-AMS

  4. Livestock Marketing Information Center Data Source: USDA-AMS, Compiled & Analysis by LMIC

  5. Livestock Marketing Information Center Data Source: USDA-AMS, Compiled & Analysis by LMIC

  6. Livestock Marketing Information Center Data Source: USDA-AMS

  7. Market Impacts • Limited…so far • Reduced summer stocker demand • Changed market timing of winter grazing • Cow market impacts just beginning • In the next few weeks • More impacts on regional cow markets • Long term • Pre-empt herd expansion and extend high prices

  8. Spring Droughts are Tricky • Risk of acting too soon • Rapid improvement is possible • Risk of delaying actions • Loss of market value • Increased expenses • Production impacts • Maximum cattle production and nutritional needs

  9. Worst Drought Management Plan Hold on …to everything …at all cost.

  10. Drought Management Plan • Start with worst case and work backwards to current situation. • Identify decision trigger points • What has to be done • When decision must be made

  11. Drought Management Plan • Total Destocking • Lack of water • Total lack of forage production/infeasible to purchase feed • Too late for rain to help • Relocation of animals possible but difficult • Maintain Core Breeding Herd • Young, dry, bred cows (7 years and less) • Reduce forage requirements

  12. Reducing Forage Requirements • Early weaning • Reduce forage and water requirements • Rebreeding • What to do with early weaned calves? • Culling • Open cows/replacement heifers • Old cows, unsound (slaughter) • Older cows, physically sound (solo or maybe as pairs) • Cows over 7 years of age

  13. Timing of Decisions from Late April • 2-4 Weeks • Early weaning • Cows in early lactation will drop body condition rapidly and may not rebreed • Cull open/old cows • Cull older cows if sold as pairs • 1-2 months • Cull older cows • With water, may be able to hold core herd for 3-4 months • Late Summer • Total destocking or minimal core herd to winter

  14. Post-Drought Plan • Replacement females will be scarce and expensive • Pastures need time for recovery • Depends on timing of end of drought • Stocker production feasible while rebuilding breeding herd

  15. Livestock Marketing Information Center Data Source: USDA-AMS, Compiled & Analysis by LMIC

  16. Drought Resources • DASNR drought web page • http://agwater.okstate.edu/research-extension/drought/drought. • Financial planning (IFMAPS) • Tax Implications • Pasture and feed management • Nutritional management • Government Programs (including CRP use) • http://www.agecon.okstate.edu/agpolicy/news.asp

  17. Thank you!

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