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


Don Close of Rabobank Calls for Structural Changes to Keep Beef Industry Competitive

Tue, 04 Feb 2014 16:15:27 CST

Don Close of Rabobank Calls for Structural Changes to Keep Beef Industry Competitive
Changing consumer preferences and a production model tailored to the production of top-shelf steaks has put the U.S. cattle industry in a position losing market share to competitive proteins, according to a new report from the Rabobank Food & Agribusiness Research (FAR) and Advisory group. The report, “Ground Beef Nation,” notes the industry needs to change the way beef is produced in order to remain competitive in the protein market.


“Under the existing business model, the U.S. cattle industry manages all fed beef as if it were destined for the center of the plate at a white table cloth restaurant,” notes Rabobank cattle economist Don Close. “The industry is, essentially, producing an extraordinarily high-grade product for consumers who desire to purchase a commodity. More than 60 of U.S. beef consumption is ground product. If the U.S. cattle industry continues to produce ground beef in a structure better suited to high-end cuts, the result will be continued erosion of market share.”

Close spoke with Radio Oklahoma Network’s Ron Hays at the Cattle Industry Convention in Nashville, Tenn. (You can hear their conversation by clicking on the LISTEN BAR at the bottom of this story.)

“The core question I was looking at was, ‘If the customer is always right and the tastes and preferences or choices of that customer are changing, does the industry need to take a look at making some adaptations to better meet and supply that market?’ I think it’s a very real question,” Close said.

His report goes on to explore the trend of changing consumer preferences and the role pricing plays in the notable decline in beef consumption. The industries that produce competitive proteins such as pork and chicken have grown and become more efficient, making the products more readily available at competitive prices. ”


The industry must change to a production model that determines the best end use of an animal as early as possible, in order to compete in a Ground Beef Nation,” notes Close. “A new system for end-use categorization that influences calf selection, cattle management, production costs and feeding regimen throughout the life of the animal is vital to keeping beef competitive with other choices at the meat counter.”


   

   

right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Plains Grains Says Kansas Wheat Harvest Now Stands at 91% Complete  Thu, 18 Jul 2019 18:43:47 CDT
  • This Week on SUNUP - Dr. Kim Anderson Talks About the Uncertainty Plaguing the Markets   Thu, 18 Jul 2019 18:19:32 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Thursday, July 18, 2019  Thu, 18 Jul 2019 15:27:06 CDT
  • Union Urges USDA to Reconsider Forced Relocations as Two-Thirds of ERS, NIFA Workers Reject Move  Thu, 18 Jul 2019 15:24:46 CDT
  • AFBF, NFU Cite New Data that Highlights Continuing Need to Fight Opioid Addiction in Rural Communities  Thu, 18 Jul 2019 15:23:04 CDT
  • Thursday Market Wrap-Up with Justin Lewis  Thu, 18 Jul 2019 14:33:33 CDT
  • Thursday Afternoon Market Wrap-Up with Carson Horn  Thu, 18 Jul 2019 14:29:11 CDT
  • Glen R. Smith Designated Chairman and CEO of the Farm Credit Administration By President Trump  Thu, 18 Jul 2019 14:27:41 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.