Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   
   

Beef Buzz News


Cattle Industry Waits for Third Quarter Numbers From 75% Plan

Tue, 05 Oct 2021 10:25:21 CDT

Cattle Industry Waits for Third Quarter Numbers From 75% Plan In August of 2020, the National Cattlemen’s Beef Association Live Cattle Marketing committee came together to create the 75% Plan. The goal of the plan is to increase negotiated cash trade and tests whether the beef industry can resolve the issue of low volumes of negotiated cash trade in a voluntary, industry-led manner instead of through government mandates.

Two quarters of the 75% Plan’s first year are already in the books and the third quarter wrapped up with the end of September. Now, industry professionals are waiting to see what the third-quarter numbers will show. NCBA officials indicate that it will take some time to pull the third quarter data together with the addition of the packer data that is being compiled and analyzed by Dr. Stephen Koontz.

Tanner Beymer, director of Government Affairs and Market Regulatory Policy at the NCBA, gives Radio Oklahoma’s own Ron Hays a little more detail about the plan, including the producer side and the packer side of the agreement.

“It’s called the 75% Plan because we look at the existing research that shows the number of cattle that must be traded on a negotiated basis per region to have robust price discovery,” Beymer said. “Given that we need to make substantial progress to get to that robust number, we wanted to start with some realistic benchmarks, so we (decided to aim for) 75%.”

Those numbers are then evaluated through two different lenses: the producer side and the packer participation from the procurement side, Beymer said.

According to Beymer, for the producer side, the volume of cattle that are traded on a negotiated basis in each region is monitored. Every week, a certain number must be reached in no less than 75% of the reporting weeks in a quarter, he added. Packer participation is monitored by procurement of the negotiated trade, he said.

“There are triggers assigned to each of those,” Beymer said. “If we do not meet those thresholds, then we trip triggers.”

If several minor triggers, called trigger silos, are tripped, a major trigger silo will then trip, Beymer said. When enough major trigger silos are tripped, then a legislative or regulatory solution will be pursued, he added.

It wasn’t until recently, that a packer participation silo was finished, meaning the third quarter will be the first to have measurable producer and packer data available. According to Beymer, the goal is to make sure the responsibility is not only on cattle producers to sell negotiated, but also depends on packers to buy negotiated.

Because the NCBA legally cannot access the true numbers of individual packer transaction data, a third party will analyze the data to maintain the confidentiality of packers, but also give cattle producers factual figures, according to Beymer. That third party participant is Dr. Stephen R. Koontz of Colorado State University.

“The packers will voluntarily transmit their procurement information to him, he will analyze it against our framework and then report back to (the NCBA) whether or not triggers were tripped,” Beymer said. “At no time will we ever see the packer data ourselves.”

Click on the LISTEN BAR below to hear more from Ron Hays and Tanner Beymer as they talk about the 75% Plan as the cattle industry waits for the third-quarter data to be released.

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.

   


   

Listen to Ron's conversation with Tanner here.
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 

Beef News

  • NCBA’s Kent Bacus Hopeful Biden Administration Will Pursue Deals Beneficial to US Beef Producers  Fri, 15 Oct 2021 10:08:11 EDT
  • NCBA's Kent Bacus Talks Trade, Contrasts Biden and Trump Administrations  Thu, 14 Oct 2021 20:07:24 CDT
  • Economist Katelyn McCullock Says Holiday Beef Prices are Expected to be High  Wed, 13 Oct 2021 10:35:40 CDT
  • Dr. Bart Fischer Says Robust Price Discovery May Not Lead to Higher Cattle Prices  Tue, 12 Oct 2021 10:48:23 CDT
  • More on Fall Calving Best Practices from Dr. Rosslyn Biggs  Mon, 11 Oct 2021 16:31:33 CDT
  • NCBA's Todd Wilkinson Carries Message of Caution to Members of the House Ag Committee  Fri, 08 Oct 2021 12:31:29 CDT
  • Cattle Producers Should Review Records Before Fall Calving Says Dr. Rosslyn Biggs  Thu, 07 Oct 2021 21:15:27 CDT
  • Help Newly Arrived Cattle Recover Quickest by Providing High-Energy Feed  Wed, 06 Oct 2021 10:09:20 CDT
  • Cattle Industry Waits for Third Quarter Numbers From 75% Plan  Tue, 05 Oct 2021 10:25:26 CDT
  • Missouri Cattle Industry Leader Taking Wait-and-See Approach on Industry Price Discovery Plan  Mon, 04 Oct 2021 11:29:07 CDT
  • Fiscal Year 2022 Kicks Off New and Proven Marketing Campaigns for Oklahoma Beef  Fri, 01 Oct 2021 10:56:18 CDT
  • Hugh Aljoe Says Regenerative Agriculture Education Material Will Soon be Available  Thu, 30 Sep 2021 09:53:16 CDT
  • OSU's Derrell Peel Urges Fall Stocker Operations to Review Budgets Before They Buy Fall Feeders  Wed, 29 Sep 2021 19:27:47 CDT
  • Beef Cow Herd Liquidation Continues to Unfold  Tue, 28 Sep 2021 12:47:54 CDT
  • Latest Cattle on Feed Report Shows Some Regions of the Country are More Current Than Others  Mon, 27 Sep 2021 10:28:22 CDT
  • New Research Explores the Pros and Cons of Cash Cattle Markets in the U.S.  Fri, 24 Sep 2021 10:16:19 CDT
  • New Research Shows Grid Market System Adds $700 Million in Value to U.S. Beef  Thu, 23 Sep 2021 11:19:06 CDT
  • Don Close, VP of Rabo AgriFinance Explains How Beef Won Over the Chinese Consumer  Wed, 22 Sep 2021 10:39:31 CDT
  • OCA's Michael Kelsey: We Need to Take a Pause on Issuing New Medical Marijuana Grower Permits  Tue, 21 Sep 2021 13:19:27 CDT
  • NCBA's Josh White Says Beef Quality Assurance Produces Better Beef  Mon, 20 Sep 2021 10:35:46 CDT
  • Certified Angus Beef Program is a Win for Producers, Processors and Consumers Says John Stika  Fri, 17 Sep 2021 10:48:26 CDT
  • John Stika Believes the Pandemic Shows Consumers Want High Quality Beef  Thu, 16 Sep 2021 08:07:17 CDT
  • Dr. Jody Wade's Advice to Cattle Producers is Stay Ahead of BRD  Wed, 15 Sep 2021 13:14:02 CDT
  • Katelyn McCullock Sees High Hay Prices in the U.S.  Tue, 14 Sep 2021 10:49:50 CDT
  • NCBA's Ethan Lane Believes mCOOL is Old News  Mon, 13 Sep 2021 11:15:37 CDT
  • NCBA's Ethan Lane Heard Little New in White House Briefing on Competition  Fri, 10 Sep 2021 11:45:17 CDT
  • Dan Halstrom Predicts 2021 Will Be a Record Year for U.S. Beef Exports  Thu, 09 Sep 2021 11:15:04 CDT
  • Dietician Shalene McNeill Says Consumers Enthusiastic About Including Beef in Their Diet  Wed, 08 Sep 2021 09:25:33 CDT
  • Shalene McNeill on Why You Should Feed Your Baby Beef  Tue, 07 Sep 2021 12:20:07 CDT
  • Randy Blach Says Sustainability is an Opportunity for Beef Cattle Industry  Mon, 06 Sep 2021 05:00:35 CDT
  • Although Beef Demand is High, Dollars are Slow to Trickle Down to Producers  Fri, 03 Sep 2021 12:25:25 CDT
  • Dr. Harold Newcomb Says Strategic Deworming Helps Your Bottom Line  Thu, 02 Sep 2021 09:33:31 CDT
  • Carbon Markets: The Wild West of Free-Market Enterprise  Wed, 01 Sep 2021 10:38:53 CDT
  • Biden Administration Intent on Dumping Trump Era Navigable Waters Protection Rule  Tue, 31 Aug 2021 16:57:44 CDT
  • NCBA's Scott Yager Says Redefining WOTUS Will Be Repetitive  Mon, 30 Aug 2021 11:18:40 CDT

  •  

    Beef Buzz Archives

    Old Archives  |   2010  |   2011  |   2012  |   2013  |   2014  |   2015  |   2016  |   2017  |   2018  |   2019  |   2020  |   Jan 21  |   Feb 21  |   Mar 21  |   Apr 21  |   May 21  |   Jun 21  |   Jul 21  |   Aug 21  |   Sep 21  |   Oct 21  |   Nov 21  |   Dec 21
       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

       
       

    Search OklahomaFarmReport.com

    © 2008-2021 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.