Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
    
   
   
   
   
   
   
   
   
   

Agricultural News


OSU's Derrell Peel Talks About the Issues Facing the Food and Agricultural Markets

Mon, 14 Oct 2019 17:44:32 CDT

OSU's Derrell Peel Talks About the Issues Facing the Food and Agricultural Markets Mondays, Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry. This analysis is a part of the weekly series known as the "Cow Calf Corner" published electronically by Dr. Peel and Dr. Glenn Selk. Today, Dr. Peel talks about the issues in the food and agricultural markets.


"As important as population growth, perhaps more so for meat industries, is economic growth and the growing middle class. Globally, the middle class is projected to expand from two billion to 4.9 billion people by 2030. China alone is projected to add 850 million new middle class consumers by 2030. It is well documented that meat consumption increases as growing incomes support better quality diets and increased protein consumption.


"Two different presentations by speakers from the Federal Reserve noted that the U.S. is currently experiencing a very long period of relatively weak economic growth.   These and other presentations noted that the shrinking U.S. labor force is contributing to the slow pace of economic growth. As the U.S. population ages, fewer new labor force entrants are available to replace those leaving the work force. It was also noted that productivity growth will not likely be sufficient to offset the declining labor force.


"Other labor presentations noted the important role of immigrants historically in food and agricultural industries and the growing need for low to medium skilled workers to support all aspects of agricultural and food production, including vegetable and fruit harvest; dairy, ranch and feedlot workers; labor for food processing and manufacturing; and restaurant servers and chefs. Recent research conducted by Oklahoma State University confirmed the pervasive labor issues and challenges in all sectors of the beef industry from packers to further processing and food distribution to retail and food service*.


"The growing reality of the massive impact of African Swine Fever (ASF) was another common topic in these conferences. The rapidly changing dynamics of this disease suggest that the impacts are global in nature and not only for the coming weeks and months but likely will fundamentally impact global protein markets for years or decades. It appears at this time, that swine and pork losses in China, Vietnam, North and South Korea, and the Philippines along with other outbreaks of ASF in Europe and Africa is creating a protein deficit that cannot be currently filled by all proteins in the world.


"Finally, the conferences included discussions about alternative proteins, particularly plant-based proteins.   Various perspectives noted that some in both the meat and plant-based protein markets view each other as competitors battling to replace the other. There was also recognition that the markets may be complementary, not only for retail and food service businesses to offer a more comprehensive set of protein product choices to consumers; but also the reality that it will likely take both meat and plant-based protein to feed the world through the remainder of the century."



   


 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, November 15, 2019  Fri, 15 Nov 2019 17:24:42 CST
  • Promoting Growth and Grade Robbi Pritchard Talks Implant Dos and Don'ts  Fri, 15 Nov 2019 17:20:29 CST
  • USDA Issues Second Tranche of Market Facilitation Program  Fri, 15 Nov 2019 17:06:58 CST
  • Oklahoma CattleWomen’s Selects Robyn Peterson of the Noble Research Institute as President  Fri, 15 Nov 2019 16:57:27 CST
  • Cattle Feeders Hall of Fame Joins Forces with Cattle Industry Convention for Second Year  Fri, 15 Nov 2019 08:47:34 CST
  • Veteran Lobbyist Mary Kay Thatcher Hopes for December Action for USMCA Ratification  Fri, 15 Nov 2019 09:44:30
  • Atop the RON Rural Soapbox - Former Secretary John Block  Fri, 15 Nov 2019 07:53:26 CST
  • Friday Preopening Market Update with Dave Lanning  Fri, 15 Nov 2019 07:26:13 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.