Beef Buzz News
CattleFax CEO Randy Blach Says Beef Demand Has Dramatically Improved In The Past 20 Years
Mon, 31 Aug 2020 08:16:38 CDT
The demand for beef has come a long way in the past 20 years says Randy Blach, CEO of CattleFax, a global leader in beef industry research, analysis and information.
Ron Hays Beef Buzzes With Randy Blach
Blach was a featured speaker at the recent Feeding Quality Forum sponsored by the Certified Angus Beef program.
The low in beef demand was basically 1998-2000, Blach said.
Consumer research audits showed one out of four steaks was a disappointment, so it was no wonder consumers were walking away form our products, Blach said.
The cattle industry got the message and started the shift towards more black-hided cattle.
In the mid-90's there were 35 percent black-hided cattle and today we have 65 to 70 percent, Blach said.
The other factor was improved genetics.
Producers had to make a decision and genetics, where we had a higher probability of what they would produce, was the answer, Blach said.
Using a beef demand index of 100 in 1980, it hit bottom at 47 in 1998. The beef industry was in trouble.
We were losing producers, and nobody was making any money, Blach said.
We weren't listening to the consumer, he said.
By the early 2000's things started to change, and the index has now increased to 61.
That demand growth has been worth anywhere from $225 to $280 per head, Blach said.
Consumers have said they want more and are willing to pay for it, Blach said.
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