February 8, 2016
Exports critical to US cattle price recovery
US cattleproducers, gathered in a recent annual convention, agreed that exports were the most critical factor in reversing the decline in cattle prices, which was particularly sharpest in the second half of 2015.
"Even during this difficult time for the industry, producer support for expanding global demand for US beef is steadfast, and that is very gratifying to see," said Philip Seng, president and CEO of US Meat Export Federation.
"Cattle producers also recognise that the United States is in a period of aggressive herd rebuilding, and this presents tremendous opportunities for industry growth. But we can only capitalise on these opportunities if we are equally aggressive about promoting our product and expanding our international customer base", he added.
Meanwhile, CattleFax CEO Randy Blach said at the convention that a large portion of the market downtrend was over but that the cycle showed prices would continue to trend lower in 2016, 2017 and 2018.
The Cattle Industry Annual Convention was held in San Diego, California, on Jan. 27-29. The country's oldest and biggest convention for the cattle business, it was the 118th one held.