(Undated) Addressing the crowd during the recent Cattle Raisers Convention and Expo, hosted by the Texas & Southwestern Cattle Raisers Association, CattleFax CEO Randy Blach says there’s reason to be optimistic about where the markets are headed.
Driving the increase is a classic example of supply and demand. The nation’s cattle inventory is shrinking, Blach explains, caused by extreme drought in West and Northern Plains. At the same time, beef demand is at a 33-year high. This signals good news as the industry recovers from price swings faced in 2020…tape
Blach says to also expect grain prices to trend higher in the years ahead.
Cattle raisers should be encouraged by consistently strong beef demand, Blach explains. This hasn’t always been the case.
Cattle raisers were quick to respond, and Prime and Choice supplies have since increased 60%. Consumers are hungrier than ever for high-quality beef, both domestically and abroad.
Again, Randy Blach is the CEO of CattleFax.
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Submitted by Chad Smith on Fri, 08/13/2021 – 09:56
Source: Audio provided as a service to farm broadcasters by the Texas and Southwest Cattle Raisers Association
Audio with Randy Blach (Block), CattleFax CEO
