2017 a Great Year for Producers - Here's CattleFax CEO Randy Blach's Advice for Keeping It GoingMon, 05 Feb 2018 11:33:25 CST
Suffice it to say, it was a good year for the beef business according to Randy Blach of CattleFax, who spoke to producers at the National Cattlemen’s Beef Association and Cattle Industry Convention in Phoenix, Arizona this past week. He also spoke briefly with Radio Oklahoma Ag Network Farm Director Ron Hays about this past year and how its success has positioned the markets for the year ahead.
“We hit on all cylinders. The market was better in all aspects than we anticipated,” said Blach looking back on the performance of the past year. “We had more profitability at every industry segment than we anticipated. It was the second best return year in the history of the US cattle industry. That’s saying something when you go through the ups and downs and the cycles we’ve had over the last 30 and 40 years.”
Blach says there were two things specifically that factored into this unexpected profitability and strength in markets. One, he says, was that the industry stayed “incredibly current,” while weights were also down significantly which helped to offset much of the increase in cattle supplies. The single biggest contributing factor, though, was that demand was so robust. In regard to 2018, Blach says maintaining, even growing export demand will be of the utmost importance for producers.
“We’ve got record protein supplies. The biggest production of pork, poultry and beef in the history of the US this year,” he said. “You roll them all together and we’re looking at significant increases in protein supplies. So, what that tells us is demand has to continue. It was a record year for protein exports for the US, but we’ll need to see those numbers increase in order to keep that per capita meat consumption level that are quote ‘sustainable.’”
Listen to Randy Blach of CattleFax speak with Ron Hays about the success of the beef business this past year and what it will take to keep that success going, 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.
Coverage of the 2018 Cattle Industry Convention and NCBA Trade Show is powered by Farm Data Services of Stillwater - click here - to learn more about how they can help your farm or ranch operation's bottom line in a variety of ways.
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