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Beef Buzz News


KSU Livestock Market Economist Glynn Tonsor Explains Once In a Lifetime Shcok to Beef Industry is Partly to Blame For Market Disruption

Fri, 10 Apr 2020 09:52:51 CDT

KSU Livestock Market Economist Glynn Tonsor Explains Once In a Lifetime Shcok to Beef Industry is Partly to Blame For Market  Disruption A “once in a lifetime shock to the beef industry” is how Dr. Glynn Tonsor, Kansas State University livestock market economist, described the current market situation during a webinar Thursday night.

This week we’ve seen increased conversations about the disparity in price for boxed beef versus cash cattle. Congressmen and agriculture officials have written letters requesting the USDA to investigate any possible market manipulation.

Dr. Tonsor said the market system has been “shocked” by the rapid changes due to COVID-19.

We raise whole animals and we produce a lot of different products, Tonsor said. Some products head to the food service market and some to the retail. When one segment is shut off overnight, it creates notable challenges to repurpose those products, he said.

The problem at the wholesale market becomes clear when you look at the various parts of the carcass. Chuck and round cuts have increased in price 28-36 percent, as these lower valued products are easier to sell at the retail level. Meanwhile, other cuts, such as ribs, briskets, short plates and loins have all decreased as there is no food service market for these products.

Another part of the equation is the processing side, where Tonsor noted concern about plants reducing workforces and slowing down production.

He said the exact size and location of the plants, which are scattered across the country is a factor.

No individual plant represents more than 7 percent of the overall national capacity, he said.

The ability to absorb one plant is there, but the uncertainty is how many of those plants and how long, Tonsor said.

Click here to view the slides from Thursday night's webinar.

Click on the LISTEN BAR below to hear more comments from Dr. Glynn Tonsor’s webinar presentation.

The Beef buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today’s show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.

   

   

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Beef News

  • KSU's Dr. Glynn Tonsor Explains Why Beef Imports Are Necessary For Robust Beef Exports  Fri, 05 Jun 2020 09:41:13 CDT
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  • CFAP Payments For Cattle Producers Close To Estimated Losses Says OSU's Derrell Peel  Wed, 27 May 2020 10:11:58 CDT
  • OSU's Dr. Peel Says Packing Plants Have Incentive To Return To Full Capacity  Tue, 26 May 2020 09:50:06 CDT
  • No Surprises Found in the May USDA Cattle on Feed Report- So Says OSU Economist Dr. Derrell Peel  Sat, 23 May 2020 16:41:14 CDT
  • Animal Rights Activists Using COVID-19 Crisis To Attack Ag Animal Industry  Fri, 22 May 2020 10:30:10 CDT
  • NCBA President Marty Smith Encouraged By Government Aid Program And Packing Plant Progress  Fri, 22 May 2020 03:55:11 CDT
  • Boxed Beef Prices Fall As Supply Chain Catches Up With Demand  Wed, 20 May 2020 10:20:11 CDT
  • Packing Plants Slowly Increasing Capacity But It Could Take Months To Work Off Cattle Back Log, Says KSU's Dr. Glynn Tonsor  Tue, 19 May 2020 09:40:55 CDT
  • Packing Plants Slowly Increasing Capacity But It Could Months To Wrok Off Cattle Back Log, Says KSU's Dr. Glynn Tonsor  Tue, 19 May 2020 09:18:11 CDT
  • Consumers Will Have Plenty of Beef For Memorial Day Cookouts, Says NCBA's Colin Woodall  Mon, 18 May 2020 09:44:12 CDT
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  • Beef Exports Value Estimated at $1 Billion For U.S. Cattle Producers, Says Dr. Derrell Peel  Thu, 14 May 2020 17:14:56 CDT
  • NCBA's Alisa Harrison Explains New Beef Consumer Research And Memorial Day Campaign  Wed, 13 May 2020 10:27:15 CDT
  • Getting Labor Force Back Online Critical For Packing Plants, says Iowa State's Dr. Lee Schulz  Tue, 12 May 2020 10:01:16 CDT
  • Fomer CBB Chair Chuck Coffey Says It's Our Job to Promote Beef  Mon, 11 May 2020 10:06:23 CDT
  • Ag Economist Bart Fischer Explains Why Beef Trade Must Be a Two-Way Street  Fri, 08 May 2020 10:04:16 CDT
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  • Beef Producers Working To Help Food Service Industry Reopen  Tue, 05 May 2020 09:57:16 CDT
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  • Latest Cattle on Feed Report Shows Why There is a Ripple Effect Happening in The Cattle Processing Chain as Cattle Are Being Backed Up Into May and June  Mon, 27 Apr 2020 11:55:13 CDT
  • TCFA President Ross Wilson Requests USDA To Waive COVID-19 Payment Limits  Fri, 24 Apr 2020 17:47:12 CDT
  • OCA's Michael Kelsey Offers Insight Into Cattle Producers Forced to Make Tough Decisions During Uncertain Time  Thu, 23 Apr 2020 10:17:10 CDT
  • The Navigable Waters Protection Rule, Which Replaces The Old WOTUS Rule, Is Now Official. NCBA's Chief Environmental Counsel Scott Yager Explains What That Means  Wed, 22 Apr 2020 10:08:37 CDT
  • As Cattle Processing Drops 20 Percent, KSU's Dr. Glynn Tonsor Offers Hope Beef Demand Will Rebound  Tue, 21 Apr 2020 09:56:32 CDT

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