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


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

  • ICYMI: Slaughter Cows Mostly Steady to 2.00 Higher, Slaughter Bulls 2.00 to 3.00 Lower Monday at OKC West Livestock   Tue, 21 May 2019 16:08:46 CDT
  • OSU's Glenn Selk Talks About the Importance of Docile Females in Your Program  Tue, 21 May 2019 15:30:54 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Tuesday, May 21, 2019  Tue, 21 May 2019 15:17:28 CDT
  • Tuesday Market Wrap-Up with Justin Lewis  Tue, 21 May 2019 14:30:19 CDT
  • Tuesday Afternoon Market Wrap-Up with Carson Horn  Tue, 21 May 2019 14:25:11 CDT
  • Senate Approves State Budget 37-11 with $3.1 Million Earmarked for Rural Infrastructure, Resources  Tue, 21 May 2019 14:18:57 CDT
  • Syngenta Enhances Company's Grow More Experience and Agronomy in Action Engagement in 2019  Tue, 21 May 2019 12:48:14 CDT
  • NSAC Says Renewed Focus on Climate Change Presents Opportunities for Sustainable Agriculture  Tue, 21 May 2019 12:38:42 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Herbs Herb 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.