Agricultural News
CattleFax CEO Randy Blach Shares Positive Outlook on Cattle Markets, Warns of Possible Setbacks
Tue, 05 Feb 2019 16:23:58 CST
This past week in New Orleans during the 2019 Cattle Industry Convention and Trade Show, Radio Oklahoma Ag Network Farm Director Ron Hays had the chance to sit down with one of the industry's top analysists, especially when it comes to talking about the big picture of the cattle industry. Randy Blach, CEO of CattleFax, after the conclusion of his 2019 edition of CattleFax's annual Cattle Market Outlook Seminar, shared with Hays some of the highlights of his presentation which offered a generally positive sense of the market conditions ahead for 2019-2020.
"We've gotten along very well here over the course of the last three years and we still see more supply coming at us, but the export markets have been strong. Domestic demand has been strong," Blach said. "If we can keep things moving forward with some of these trade agreements and market access - that's going to be critical."
While Blach's message seems promising on the whole, it comes with its cautionary warnings as well. Come of the potential challenges that stand in the way of continued success in the beef industry include a growing concern that the US economy is headed for a possible slowdown in the coming year - perhaps even the beginnings of a recession - which Blach insists is something everyone should have on their radar. In addition, with the industry becoming increasingly dependent on the export market, Blach says the industry should also be aware of the risks involved - particularly now given the tense relationship the US has currently with many of its major international trading partners.
"This next year we expect we're going to export in excess of 17 billion pounds of beef, pork and poultry. That's a big number," Blach emphasized. "If you start having misses- markets close or access issues come up - that becomes a big deal. That protein has got to go somewhere. Obviously, if it all had to come back into the US, it wouldn't be pretty."
Listen to the complete conversation between Blach and Hays as they discuss some of the major market outlook expectations for the near future, on today's Beef Buzz. This report was brought to you by the American Angus Association - America's Breed.
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.
Our coverage from New Orleans and the 2019 Cattle Industry Convention and NCBA Trade Show will be powered by Corteva Agriscience, delivering solutions to help you manage weeds and brush- learn more by clicking here for their website- www.RangeAndPasture.Com.
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