Agricultural News
NCBA President Jerry Bohn Reports Improvement in Negotiated Trade Volume in the Second Quarter of Finished Cattle Sales
Mon, 19 Jul 2021 14:47:23 CDT
The President of the National Cattlemen's Beef Association, Jerry Bohn, has told the membership of the organization that the NCBA voluntary industry plan to increase negotiated trade and price discovery saw increased negotiated cattle trade in the second quarter of 2021. In fact, in the evaluation of the negotiated trade volume silo, there were no major triggers set off in the second quarter of the year.
Unfortunately, packer participation by some packers has not been adequate. However, the four major packers have agreed with the NCBA working group to have their negotiated trade data analyzed weekly to determine whether their level of participation to increase negotiated trade will meet the goals of the plan for the remainder of 2021.
In his letter, Bohn said "Resolving this critical piece of our voluntary effort will help ensure that both buyers and sellers of live cattle bear mutual responsibility for achieving robust price discovery." Bohn serves as both the President of the NCBA and the chair of the subgroup that is reviewing cattle trade on a quarterly basis.
Radio Oklahoma Ag Network Farm Director Ron Hays shared key parts of the Bohn letter on today's Beef Buzz- and you can read the entire letter by clicking or tapping here.
Here in the Oklahoma, Texas and New Mexico feedlot region, the Texas Cattle Feeders Aassociation area surpassed the negotiated trade weekly goal of 9,750 head for 12 of the 13 weeks and surpassed the robust negotiated trade level of 13,000 head per week several weeks in the second quarter.
"Our members have worked diligently to voluntarily increase negotiated trade from a low of 4% to current trade levels of 13% and will continue to support negotiated trade," commented TCFA Chairman Scott Anderson. All other regions also achieved the targeted levels of negotiated trade outlined in the industry plan.
You can go and review the industry plan, which has sometimes been referred to as the 75% plan by clicking here.
Click on the LISTEN BAR below to hear more from the Jerry Bohn letter.
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...
