Optimism in Beef Industry Fueled by Strong Demand with Higher Prices Anticipated
Wednesday Mar 3rd, 2021 Despite pandemic disruptions, consumer demand for beef at home and around the globe remained strong in 2020, a trend that will continue in 2021 and beyond, especially as foodservice operations begin to fully reopen. The strong demand, combined with expected higher cattle prices, signal an optimistic future for the beef industry, according to CattleFax, which presented an outlook session during the virtual 2021 Cattle Industry Convention Winter Reboot on Feb. 24.
According to CattleFax CEO Randy Blach, cattle numbers will continue to contract in 2021, and producers will gain leverage on packers and retailers and margin distribution will be more equitable. Packing capacity is expected to increase slowly with the addition of more small-scale plants, and U.S. meat exports will continue to grow. Overall, profitability is expected to improve significantly for cow/calf pro
Mar 02, 2021
Despite pandemic disruptions, consumer demand for beef at home and around the globe remained strong in 2020, a trend that will continue in 2021 and beyond, especially as foodservice operations begin to fully reopen. The strong demand, combined with expected higher cattle prices, signal an optimistic future for the beef industry, according to CattleFax, which presented an outlook session during the virtual 2021 Cattle Industry Convention Winter Reboot.
According to CattleFax CEO Randy Blach, cattle numbers will continue to contract in 2021, and producers will gain leverage on packers and retailers and margin distribution will be more equitable. Packing capacity is expected to increase slowly with the addition of more small-scale plants, and U.S. meat exports will continue to grow. Overall, profitability is expected to improve significantly for cow/calf producers.
Meteorologist sees dry weather ahead hermistonherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hermistonherald.com Daily Mail and Mail on Sunday newspapers.