The past 30 days have been the driest on record in parts of Oklahoma, adding to the seasonal price pressure on feeder cattle and cull cows.
Wheat pasture development and growth is likely to slow or even reverse if forecast weather conditions are realized. This, in turn, may reduce stocker cattle demand in the coming weeks.
Markets will no doubt evolve this fall and producers must continue to evaluate winter grazing potential under dynamic market conditions and profit potential may vary widely.
Uncertainty plagues cattle markets with broader trade and political strife augmented by evolving feed market conditions. How much higher corn will go depends on acreage and yield, both uncertain at this time.
Large red meat and poultry supplies suggests pressure on prices, which would likely influence herd numbers going forward.
See what five market factors will have the biggest impact on cattle prices
Drought conditions have expanded rapidly in recent weeks and while many regions do not yet face imminent actions, it is not too early to develop drought plans for your ranch.
USDA-AMS reports that combined volumes for seven Oklahoma auctions are up 7.0 percent year over year over the past six weeks.