Beef Buzz News
Consumers Want More High Quality Beef, Says CattleFax CEO Randy Blach
Fri, 05 Mar 2021 08:01:28 CST
Consumers want more high-quality beef and are willing to pay for it, said 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 CattleFax market outlook seminar during the recent virtual NCBA winter conference.
We’ve seen over a 60 percent increase in the amount of choice and prime beef production in the United States since the 2000 to 2005 time period, Blach said.
Even though we’ve seen that kind of increase in production levels, the spread between select and CAB has continued to get higher, Blach said.
That is classic beef demand growth, he added.
The consumers are saying we want more of the good stuff, Blach said.
I don’t think that will go away once the restaurants reopen later, he said.
This is a very clear signal that the consumer is sending the beef producer today, he said, as 8 percent more of the total meat sales is going to beef.
We need to make sure we continue to listen to consumers, Blach said.
The CattleFax CEO said the introduction and growth of alternative proteins or “fake meat” should not concern beef producers.
Less than 1 percent of beef market share has gone to the alternative protein sources and Blach thinks that will slowly grow.
Keep in mind that our global population is growing and just to feed that growing population we are going to need more protein sources, Blach said.
If we continue to stay focused on what we do best and tell our story than we have a great future ahead for animal protein, Blach said.
Click on the LISTEN BAR below to hear more comments from Randy Blach.
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