Beef Buzz News
TCFA's Ross Wilson Says More Robust Price Discovery Does Not Guarantee Higher Prices
Tue, 04 Aug 2020 09:19:05 CDT
Continuing our discussion of the fallout from last week's live cattle committee meeting at the NCBA summer conference, Ross Wilson, president and CEO of the Texas Cattle Feeders Association (TCFA) tells Radio Oklahoma Ag Network Farm Director Ron Hays, they can't guarantee higher prices.
Ron Hays Beef Buzzes With Ross Wilson
More robust price discovery, either voluntarily or by mandatory means, does not guarantee high prices, Wilson said.
As you well know we're talking about supply and demand, that's what determines prices, Wilson said.
The TCFA leader said there is some confusion in the country and that played out in the committee meeting discussion.
We can get there voluntarily but if we don't NCBA will ask Congress for a regulatory solution, he said.
Wilson noted there are many ways to achieve more transparent price discovery.
We at one time had seven alternatives on the table, he said.
Today there are two, possibly three main ones including the traditional cash trade, negotiated base price for a grid, and then the fed cattle exchange, he said.
The fed cattle exchange is under new ownership and Wilson said producers are hoping additional investment will improve cattle marketing.
I am hoping our negotiated trade will increase on the live cattle exchange and it can be a larger part of the voluntary approach, he said.
Overall, Wilson said feedlot operators are facing major challenges today as he summed up their economic status in one word.
I think struggling is a word that comes to mind, Wilson said.
Our guys are losing $2-300 per head now, he said.
We see the lighter placements in April and May are somewhat offset by the processing backlog, but a lot of people believe we will see higher prices this fall.
I won't predict price levels, but people are optimistic we will see higher prices, Wilson said.
Click on the LISTEN BAR below to hear more of Ron's interview with Ross Wilson.
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