Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   

Agricultural News


Building Demand for Beef Still Important When Supplies are Tight, Beef Board CEO Says

Mon, 04 Mar 2013 16:30:48 CST

Building Demand for Beef Still Important When Supplies are Tight, Beef Board CEO Says



Polly Ruhland, Cattlemenís Beef Board CEO, says building demand for beef clearly is one of the goals of the checkoff, but that goal often is misunderstood. She says that beef demand and consumption are not the same thing.


ďDemand is not consumption. Now Iím no economist - thatís the disclaimer right up front - but I will tell you beef demand is commonly confused with beef consumption, although the two are very different. And hereís what I like to say: simply put, you canít eat what you donít make. So consumption is a measure of what we eat - itís a measure of inventory in our business. Domestic production and imported supply of beef and beef products divided by the number of people eating. So if thatís the definition of consumption, what happens when supply decreases?Ē


Demand is still there even when supplies are lower, Ruhland says.


ďIn demand, prices adjust to clear the market, whatever the supply. So if consumers are willing to pay more, the market reflects that in demand regardless of what the supply is doing. Does that make sense? Price adjusts to clear the market. So even when volume is low, as it is now, and through the next year or two at least we expect, demand and strength (strength of demand) can grow. Demand can grow when supply is low and thatís what weíre seeing right now. I understand demand is up 2 percent even though prices are up - because prices are up- in a low supply situation.Ē


Ruhland says keeping demand high, even when supplies are limited, is a very important goal of the beef checkoff program.


ďThe key about demand is that itís all about the consumer, right? Beef demand goes beyond a simple quantity and measures consumer desirability and consumer preference. Those are two things the checkoff knows very, very well - beef desirability and consumer preference for our product. The economy plays a factor - we canít control the economy, we probably canít control disposable income, but we can influence consumerís desire to pay more for our product, thereby supporting and maybe even growing demand in a time when we have little product to offer them and prices are high.Ē


You can learn more about the Beef Checkoff's efforts to stimulate demand by going to their website at: http://www.beefboard.org/



   
   

right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • OK Wheat Crop 25% Harvested as Rains Cause Further Delays, Damages   Wed, 19 Jun 2019 20:00:24 CDT
  • Feeder Steers Traded Mostly Steady, Feeder Heifers Sold 1.00-2.00 Lower Wednesday at OKC West Livestock Auction  Wed, 19 Jun 2019 18:57:05 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Wednesday, Jun 19, 2019  Wed, 19 Jun 2019 16:27:47 CDT
  • Wednesday Market Wrap-Up with Justin Lewis  Wed, 19 Jun 2019 14:13:28 CDT
  • Wednesday Afternoon Market Wrap-Up with Carson Horn  Wed, 19 Jun 2019 14:08:58 CDT
  • They Won't Know Unless We Tell Them: Chuck Coffey, CBB Chairman on the Beef Checkoff's Importance  Wed, 19 Jun 2019 13:11:27 CDT
  • New Bee Better Program Promotes Symbiotic Relationship of Pollinator Ecosystems and Working Lands  Wed, 19 Jun 2019 13:05:59 CDT
  • Wheat Harvest Way Behind Schedule Though Crop Remains Mostly in Good Condition Despite Rain  Wed, 19 Jun 2019 12:27:04 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.