Record Level U.S. Beef and Pork Exports Help Provide StabilityMon, 19 Dec 2011 13:50:02 CST
Exports have been a significant factor in the meat industry over the past year with right at $5 billion worth of value anticipated for 2011 with both beef and pork exports. We talked with Dr. Derrell Peel, Oklahoma State University Livestock Market Economist, about the role of exports and how recent rainfalls have helped prices.
Peel says that over the past two years the international trade and exports specifically of beef have been very important in providing stability in the market and getting the U.S. through the recession in 2009, into 2010 and even more recently in 2011. Peel adds that it is also important to point out that it is a very robust demand with the exports.
Many times in the past, we have been exporting beef to only one or two markets and have been heavily dependant on them. That is not the case now says Peel. With four major markets that are all fairly strong, we get a nice mix of product and a nice strong demand says Peel.
Also, Peel says he is impressed with the way feeder cattle prices have held up in Oklahoma after recovering from the drought this summer. With a strong development of wheat pasture over November and even early December, Peel says there was a mini-boom in the cattle demand.
Click on the LISTEN bar below to hear the rest of our conversation with Dr. Peel on exports and recovering from the drought.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also 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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