Global markets and rebuilding the herd: CattleFax Outlook Session

NASHVILLE, Tenn. – Improving weather conditions, focusing on the global market for beef and rebuilding herds were the hallmarks of the CattleFax U.S. and Global Protein and Grain Outlook at the 2014 Cattle Industry Convention.

A myriad of individuals spoke to producers about a wide variety of topics ranging from weather to outlooks on global protein, grain and energy markets.

Randy Blach, CEO of CattleFax, forecasted a better overall profitability in the year to come.

“We are going to see much improved profitability for cow-calf producers,” Blach said. “These times where we are seeing profitability are long over do.”

The weather outlook for 2014 included a forecast for improved drought conditions in the U.S. and ideal conditions for planting and harvesting across the Midwest during spring and summer.

Cattle producers also should anticipate increasing consumer demand for beef in global markets, particularly in China, according to CattleFax forecasting. Opportunities for gaining greater global market share for beef are numerous.

Blach also stressed the importance of rebuilding cattle herds across the nation.

“We need to see the herd expand,” Blach said.

The outlook closed with CattleFax’s vision for the future. Blach reiterated the necessity for recognizing and accessing the global market for beef.

“These global markets are important,” Blach said, noting the opportunity for the beef industry to continue to export tonnage while still increasing price.

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Categories: Convention News

Author:Stuart Estes

I am an agricultural communications student at the University of Arkansas with skills ranging from news reporting to marketing to research.

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