Beef Buzz News
Glynn Tonsor Talks October Meat Demand Monitor Numbers
Wed, 03 Nov 2021 13:26:21 CDT
October’s Meat Demand Monitor was released early this week. Monitor data is compiled and tracked by Glynn Tonsor, a professor and extension specialist in the Agriculture Economics Department at Kansas State University. He told Ron Hays, director of Radio Oklahoma Ag Network, there are a couple of key takeaways from consumers right now regarding beef demand.
Listen to Ron's conversation with Glynn here.
“Domestic retail meat demand remains up,” Tonsor said. “Foodservice demand continues to be flat.”
Tonsor said he has been surveying the public for the last seven months, asking what consumers expect retail meat prices to be in the upcoming months. Month after month, consumers continue to suggest they expect higher retail meat prices, he added. For November, consumers expect retail meat prices to jump 3%, he said.
Just because consumers expect retail meat prices to climb does not mean they have to pay those higher prices, Tonsor said. The fact that they continue to buy beef and pork, shows demand is healthy, he added.
“There is a mix of both supply-side … and also demand-pull, which is pulling prices up,” Tonsor said. “Think labor challenges, logistical transport costs and the like that are pushing prices up … we need to keep monitoring that - pun intended.”
Tonsor said he also tracks the international trade on a month-to-month basis and the current index is based on Aug. 2021 numbers which are impressive.
“That index value I track came in at a value of 261,” Tonsor said. “The base period is equal to 100 in Jan. 2010 and for my fellow numeric geeks out there, that means we have had a 161% increase in demand for U.S. beef.”
Click on the LISTEN BAR below to hear more from Ron Hays and Glynn Tonsor as they talk about the Meat Demand Monitor’s October numbers.
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.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
National Livestock's Robert York Excited Cattle Markets are Doing Better Mon, 29 Nov 2021 11:06:34 CST
Cattle Producers Have Higher Cattle Prices to be Thankful for Thu, 25 Nov 2021 12:02:12 CST
Don Close Expects Smaller US Beef Cow Herd in 2022 Wed, 24 Nov 2021 08:06:48 CST
USMEF's Dan Halstrom Says Weakened Global Supply Chain is Stifling Meat Exports Tue, 23 Nov 2021 15:44:03 CST
2022 Cattle Market Forecasts Point to Higher Prices and Higher Break-Evens Mon, 22 Nov 2021 10:36:03 CST
Third-quarter Packer Participation Data Coming Out of 75% Plan Disappointing Fri, 19 Nov 2021 10:59:38 CST
NCBA's Ethan Lane on The Cattle Price Discovery and Transparency Act Thu, 18 Nov 2021 10:02:32 CST
In America's Heartland, You Cannot Beat Nebraska Cattle Prices Says Derrell Peel Wed, 17 Nov 2021 09:46:45 CST
Fed-Cattle Markets are Current for the First Time in About Two Years Tue, 16 Nov 2021 10:47:18 CST
Upcoming Cattlemen's Congress 2022 is Ready for You Mon, 15 Nov 2021 09:58:12 CST
Entries Are Open for the 2022 Cattlemen's Congress Coming to Oklahoma City January 1-16 Fri, 12 Nov 2021 07:27:15 CST
Oklahoma Stocker Operator Jim Hollenbeck Says Performance Beef Helping Him Succeed Thu, 11 Nov 2021 08:06:53 CST
Hollenbeck Cattle Co. Utilizes Performance Beef to Simplify Their Backgrounding Operation Record Keeping Wed, 10 Nov 2021 07:32:19 CST
Kelli Payne Talks Cattle Prices After Yesterday's Steep Rise Tue, 09 Nov 2021 11:03:13 CST
Rick Machen Believes Comprehensive Data Helps Cattle Producers Succeed Mon, 08 Nov 2021 08:15:44 CST
NCBA's Colin Woodall and Scott Yager on Cattle Industry's Sustainability Goals Fri, 05 Nov 2021 09:53:01 CDT
Tom Fanning Contrasts Cash Trade vs. Negotiated Grid Pricing Thu, 04 Nov 2021 10:11:14 CDT
Glynn Tonsor Talks October Meat Demand Monitor Numbers Wed, 03 Nov 2021 13:26:26 CDT
Don Close Worries About Mandated Cash Cattle Trade Tue, 02 Nov 2021 10:56:21 CDT
Rabo AgriFinance's Don Close on Labor Shortages in Packing Industry Mon, 01 Nov 2021 11:29:09 CDT
Beef Packers Struggle to Find Labor Force Fri, 29 Oct 2021 10:26:16 CDT
NCBA's Jerry Bohn Says There is No Doubt 75% Plan has Increased Negotiated Trade Thu, 28 Oct 2021 18:12:55 CDT
Randy Blach Convinced Free Market Will Serve Cattle Producers Best Wed, 27 Oct 2021 10:40:31 CDT
CattleFax CEO Randy Blach Says Inflated Prices are Here to Stay Tue, 26 Oct 2021 10:22:48 CDT
Derrell Peel Says Latest Cattle on Feed Report is Slightly Friendly for the Cattle Industry Mon, 25 Oct 2021 10:03:24 CDT
Labor Shortages are the Root Cause of Stagnant Cattle Prices Says Justin Benavidez Fri, 22 Oct 2021 13:14:11 CDT
Texas AgriLife Economist Justin Benavidez Says 75% Measuring Improvement in Negotiated Trade Thu, 21 Oct 2021 10:50:53 CDT
Beef Prices Likely Will Not Rise Anymore as Consumers Deal with Inflation Wed, 20 Oct 2021 20:06:13 CDT
OSU's Derrell Peel Says Winter Wheat Pasture is Especially Valuable This Year Tue, 19 Oct 2021 10:55:09 CDT
Curbing Methane Outputs Could Be a Win for Producers and Consumers Mon, 18 Oct 2021 21:30:23 CDT
NCBA’s Kent Bacus Hopeful Biden Administration Will Pursue Deals Beneficial to US Beef Producers Fri, 15 Oct 2021 10:08:11 EDT
NCBA's Kent Bacus Talks Trade, Contrasts Biden and Trump Administrations Thu, 14 Oct 2021 20:07:24 CDT
Economist Katelyn McCullock Says Holiday Beef Prices are Expected to be High Wed, 13 Oct 2021 10:35:40 CDT
Dr. Bart Fischer Says Robust Price Discovery May Not Lead to Higher Cattle Prices Tue, 12 Oct 2021 10:48:23 CDT
More on Fall Calving Best Practices from Dr. Rosslyn Biggs Mon, 11 Oct 2021 16:31:33 CDT