Beef Buzz News
Beef Demand Not Dented By Fake Meat or Economic Slump, says Randy Blach With CattleFax
Wed, 07 Oct 2020 08:05:42 CDT
Demand for U.S. beef remains strong despite the coronavirus-infused economic slump and continued pressure from alternatives such as fake meat. That's the assessment from Randy Blach, CEO of CattleFax.
Blach was a featured speaker for this week's virtual meeting of the Texas Cattle Feeders convention.
In the battle over plant-based protein versus beef protein, Blach said the consumer needs to understand the differences and the beef industry should be more transparent.
The new generation of beef consumers like our product, but we have got to let them see under the hood, Blach said.
We've got a great story to tell and make sure it's current and moving forward, he said.
Yes, fake meat gained a little more traction (when the pandemic created temporary meat shortages in the spring) but we need to keep things in perspective.
We will consume 220 pounds of beef, pork and poultry this year on a per person basis, Blach said.
In comparison, we will consume less than one pound per person of fake meat.
The CattleFax CEO said beef demand has shown a 60 percent increase over the past 20 years.
One concern is how the continuing economic slump will impact demand.
We need to see a full recovery in this economy, Blach said.
He added the beef export market is strong.
I think there are tremendous growth opportunities, he said.
If we could get to exporting 17-18 percent of our total production with 3 to 4 billion pounds within 6 or 7 years, I think that would be excellent for our industry, Blach said.
We are the largest producer of high-quality fed beef on the planet, he said.
I do believe because of the high quality of the beef we produce here there is great demand, Blach said.
Click on the LISTEN BAR below to hear more comments from Randy Blach.
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.
Ron Hays Beef Buzzes With Randy Blach
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