Agricultural News
US Beef Trade Finds Opportunity in the Wake of the Australian Pull Back
Tue, 25 Oct 2016 11:55:20 CDT
Despite all the negatives being talked about in beef trade, there are still some silver linings. Jim Robb of the Livestock Market Information Center says the export marketplace and especially the drop credit market, is doing especially well. He attributes this to the fact that more total pounds of beef can enter the global market, frankly because of the low prices. Farm Director Ron Hays spoke with Robb about what he's seeing unfold in the beef trade these days.
"There's a little bit of demand improvement in the export markets and that's partly due to the Australian situation as they have really pulled back their slaughter levels," Robb said. "So their exports have dampened and - have really opened the door for more US exports. That's something we are getting some year-over-year increases."
Drought down under seems to be the reason behind Australia's pull back. For the US, though, it comes as a welcomed opportunity as an increasing beef supply will allow the US the ability to handle growing export demand. However, Brazil and India look to be positioning themselves as competitors in the wake of Australia's reversal, which is expected to continue into 2017.
"It's not a big bright spot, but it's important," Robb said. "We'll see if that trend can continue in that big picture of the export profile."
Listen to Farm Director Ron Hays speak with Jim Robb about his observations of the cattle market and where the opportunities lie, on today's Beef Buzz.
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.
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