Agricultural News
Will Beef Take a Back Seat to Turkey and Ham this Holiday Season? Maybe Not, Says Glynn Tonsor
Wed, 01 Nov 2017 11:44:35 CDT
The fact that the price for beef has remained so strong lately in the face of larger supplies rolling through the pipeline, is solid evidence that demand for beef is remaining relatively strong for this particular season, when the product typically takes a back seat to poultry and pork as featured entrees on holiday menus. While this is generally the case this time of year, most in the beef industry start preparing for a slide off in demand over the next 60 days or so. But, with such strong demand currently, people are wondering if demand will slacken at all this year? Extension Livestock Market Economist Dr. Glynn Tonsor says, maybe not - simply because there is actually more beef available this year.
"Now that we have larger beef supplies, compared to say three years ago, beef is actually available to be a featured item as well," Tonsor said. "That in itself doesn't mean demand is going up. It depends on how much we're going to cut prices- but the fact that beef is available to be part of a retailers featuring plan is a nice thing."
In some sense for years past, Tonsor says retailers had their hands tied when it came to featuring beef in their stores during the end of the year, because supplies were really so limited. But with supplies being up, retailers who choose to, will have plenty of beef available to use as a featured product, which could sustain the current demand levels being observed currently, and most likely at a discounted price - still give retailers the returns they hope to get from featuring the product.
"How that all shakes out over the next three or four months is to be determined of course, but I'm optimistic that the current demand signals for beef is strong," he said," and that they will carry us through."
Listen to Tonsor explain how beef supplies and product availability will factor into sustained demand strength this season, going into the end of the year, with Radio Oklahoma Ag Network Farm Director Ron Hays, 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.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
