Beef Buzz News
Data And Information Should Drive Cattle Market Transparency, Not Emotion, Says KSU Economist Dr. Glynn Tonsor
Tue, 23 Feb 2021 08:12:27 CST
Dr. Glynn Tonsor, Kansas State University Extension livestock market economist, cautions against letting emotion rather than data drive the debate surrounding cattle market transparency.
Tonsor was a presenter at the recent USDA Ag Outlook virtual conference talking about cattle market transparency.
We have to recognize that a lot of things are interconnected so if we want to talk about altering volume of cattle going through the market, that could impact beef quality and other unintended consequences, he said.
I try to be careful not to say I am for or against a specific policy, Tonsor noted.
After 20 years of mandatory price reporting history we have more data than we had before and that’s a good thing, he said.
I encourage everyone to let data and information drive those efforts towards market transparency and not emotion, Tonsor said.
The K-State economist said the “law of untended consequences” could kick in if you took away the market’s ability to react to current conditions.
Some of the proposals would take away cattle buyer or cattle seller’s choice and I have serious pause on doing that, Tonsor said.
At the root of my belief is markets do more good than harm, Tonsor said.
Beef has a really good demand story and we need to be careful that we don’t make changes that are unintended, Tonsor said.
The KSU livestock economist said at the end of the day the market will work things out if given the opportunity to do so.
Click on the LISTEN BAR below to hear more comments from Dr. Glynn Tonsor.
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.
Ron Hays Beef Buzzes With Dr. Glynn Tonsor
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