Ross Wilson of Texas Cattle Feeders Talks Price Discovery and More with Ron HaysFri, 31 Jul 2020 13:55:02 CDT
The President of the Texas Cattle Feeders Association, Ross Wilson, believes that a reasonable outcome came out of the intense six hour Live Cattle Marketing Committee meeting earlier this week in Denver. Wilson talked about the Committee meeting and the current economic conditions of southern plains feedlots with Radio Oklahoma Ag Network Farm Director Ron Hays on Friday after returning home to Amarillo.
Wilson says that all parts of the cattle industry are in agreement that higher levels of cash trade would be a positive for the beef cattle business- "everyone wants to have robust price discovery- there's a group of people, including the Texas Cattle Feeders Association, that have been working really hard for the last several months- and in fact, the last three months have achieved robust price discovery trade levels- negotiated trade- whether it be cash or negotiated base price for a grid that Dr. Steve Koonze's research indicates that we need to get to- which for the TCFA's region is 13,000 head per week- we have actually have 14,000 to 15,000 head a week."
Wilson explains what negotiated trade is- and also describes the compromise plan that came out of the NCBA Summer Meeting that will provide time to see if the current robust levels of price discovery in the southern plains can be maintained or not. The state cattle groups engaged in the debate agreed that a working group would lay out levels of performance in marketing cattle in the weeks and months ahead that must be achieved. If those levels are not achieved- NCBA would then go to Congress and USDA and ask for a path forward to force greater participation in the open market by packers and feeders.
Listen to the in depth conversation between Ross Wilson and Hays by clicking on the LISTEN BAR below.
Ron Hays talks Cash Cattle Trade and Price Discovery with Ross Wilson of TCFA
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