Agricultural News
Beef Demand Under Pressure From Pork and Poultry in 2015
Fri, 09 Jan 2015 12:15:22 CST
With record high beef prices, the beef sector will be under pressure from competing meats like pork and poultry this year. After battling the Porcine Epidemic Diarrhea Virus the U.S. lost millions of baby pigs. In going into 2015, it appears there will be a lot more pork available for consumers to enjoy. Livestock Marketing Information Center Executive Director Jim Robb said that will impact beef prices in the days to come.
"We actually had a year-to-year decline in U.S. pork output in 2014, but that picture is going to change fairly quickly based on the USDA's report," Robb said. "Not only the number of sows up dramatically, compared to a year ago, but the USDA reported we had a year to year increase in pigs per liter. That says we are getting this Porcine Epidemic Diarrhea Virus at least much under control, compared to where we were a year ago at this time."
Radio Oklahoma Network Farm Director Ron Hays featured Robb on the Beef Buzz feature. Click or tap on the LISTEN BAR below to listen to today's Beef Buzz.
U.S. Pork production declined one and half percent in 2014. Robb said he is looking for four percent increase in 2015 with the fourth quarter up nearly six percent . He said with more pigs per liter and more sows that will rapidly expand numbers in terms of market hogs ready for the fourth quarter of 2015.
Hog prices reached record levels in 2014, but that headline will not repeat itself in 2015. Higher production will mean lower prices this year. Robb said LMIC is forecasting prices to be lower by $4 - $5 per hundred weight on a dressed basis in the hog market.
High beef prices also spurred the nation's poultry producers to increase their flocks. Robb said domestic chicken production increased 1.7 percent in 2014, but he is looking for a full four percent year to year increase in 2015.
"The beef demand issues, in terms of competing meats, will be much more forefront in 2015, probably then they were in 2014," Robb said.
In 2015 there will be fewer pounds of beef for consumers, but more pounds of pork and chicken in the grocery store meat cases. The advantage goes to those competing meats with lower prices in the coming year and possibly longer while the beef industry aims to expand the nation's cowherd and in turn increase beef production.
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.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
