Market Watcher Jim Robb Says 1Q Strength just the Start to Solid Growth in Export Markets this YearThu, 13 Apr 2017 14:25:36 CDT
The beef industry has had a great start to 2017, underpinned by large numbers of exports and low imports. But while we have seen success here in the 1Q of the year, will the markets be able to keep up this pace as the year goes on? Jim Robb of the Livestock Marketing Information Center offered his point of view to Radio Oklahoma Ag Network Farm Director Ron Hays on the issue.
“The seasonal pattern is really for exports to grow as we move towards the summer months,” he said. “If we stay on that pattern - it’ll be very important, so we need to watch it closely.”
In terms of world competition, Robb sees no reason why the US can’t continue building year-over-year gains in exports as our major competitor Australia, remains softer in the market as they finish rebuilding their herd back from the impact of recent droughts. Prospects of increased trade signaled by China is also a wildcard sitting out there that could have very positive effects for the US. Cautiously though, Robb insists a little risk management in this situation could go a long way.
“Now, to have 20 percent year-over-year growth like we did in the 1Q, I don’t think that’s really sustainable,” Robb interjected. “But to have solid year-over-year gains that are potentially double digit for the year seems very realistic.”
Listen to Robb and Hays discuss the outlook of export markets in the coming months, on today’s Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is 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.
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