Beef Buzz News
KSU's Dr. Glynn Tonsor Uses Meat Demand Index to Measure Improving Economy
Fri, 26 Mar 2021 08:03:02 CDT
One possible indicator of an improving economy is meat demand and Dr. Glynn Tonsor, Kansas State University Extension livestock market economist, has developed a meat demand index to measure demand.
On today's Beef Buzz we learn more about what that latest meat demand index indicates.
The march numbers will come out soon and Tonsor anticipates it will reflect a reopening economy.
There's a lot of commentary about states such as Texas reopening after the pandemic and I anticipate it will show improving meat demand, Tonsor said.
Another measure I use is USDA data and the latest available is from January, he said.
Domestic beef demand was up one percent compared to December, pork was up 4 percent and chicken was off 5 percent.
The more relevant update is the export number, he said.
For January beef export demand was down 17 percent, pork down 9 percent and chicken were up 2 percent.
I think a lot of that has to do with logistical challenges, Tonsor said.
Many supply chains are struggling, as there are bottlenecks in many parts of our country from shipping to computer chips.
There are reasons to be optimistic this will improve but I think the main reason the January numbers were so negative is because we couldn't do business like we wanted to, Tonsor said.
Asian countries would like more of our meat, but you have to get it there, he added.
Click on the LISTEN BAR below to hear more comments from Dr. Glynn Tonsor.
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 Dr. Glynn Tonsor
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