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


Agricultural News

Beef Prices, Demand and Expectations Climb

Wed, 26 Feb 2014 12:50:08 CST

Beef Prices, Demand and Expectations Climb
Americans will eat more chicken this year, but that shouldn’t alarm cattlemen.

“We’re going to lose market share in 2014 just by default,” says Kevin Good of CattleFax. “We’re expanding so we’re keeping more heifers and cows out of the mix so our production is going to be down about two-and-a-half pounds per capita. The poultry industry is expanding very rapidly and they can do that a lot quicker than we can with cheap corn in particular, and they’re profitable.”

CattleFax predicts the average chicken consumption will go up about two pounds per person, but that doesn’t mean that consumers are losing interest in beef.

“I think we need to step back and talk about beef demand as measured by quantity and quality, or quantity and price combined together for dollars that are flowing back to the industry versus market share which, a lot of times we get hung up with we’re losing market share, let’s say, to poultry, for example.”

Demand will be up along with prices. Cattlemen will receive more for their product, but expectations will increase, too, Good says.

“Domestically, we’ve got a group of customers that are demanding and will pay a premium for the top two-thirds choice and better product-branded product, basically. And then you’ve got a group of customers out there that, unfortunately, their income level has only been increasing about two percent per year over the last four years and, so, they’re unfortunately a segment we have a challenge with.”

To keep demand on an upward trek, beef must continue to be worth it in the minds of all consumer segments.



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.