Beef Buzz News
U.S. Produces 75 Percent of All High-Quality Beef in The World, Boosting Demand, Says Randy Blach With CattleFax
Thu, 04 Mar 2021 08:03:52 CST
The U.S. is the largest beef producer on the planet as we produce about 75 percent of all the high-quality fed beef in the world said Randy Blach, CEO of CattleFax, a global leader in beef industry research, analysis and information.
Blach was a featured speaker at the CattleFax market outlook seminar during the recent virtual NCBA winter conference.
Our status at the top means our product is a little different than our competitors, Blach said, and that is why demand for U.S. beef is strong.
We think we will continue to be the largest beef producer over the next several years, he said.
Fed slaughter will decline in the coming years as we have a smaller calf crop and cow herd, Blach added.
In 2020 we had about 12 percent more cattle than we had hook space and that's why we didn't have any leverage. Blach said.
This year the leverage position will improve, especially towards the end of the year, he said.
There will be added slaughter capacity, and this will help level the playing field for the cattle industry over the course of the next two years, he said.
The CattleFax CEO said in 2020 beef demand from a retail standpoint was the strongest in 30 years yet the producer was unable to take advantage because of the reduced slaughter capacity, he said.
That will improve this year but keep in mind there is still a lot of margin above us, he said.
We don't have to grow demand substantially from today for cattle prices to go higher, he said.
The margin is already there so we're talking about a redistribution of where some of those margins are, Blach said.
Click on the LISTEN BAR below to hear more comments from Randy Blach.
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 Randy Blach
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