Beef market strong, says UW official during local event

 

By Kayne Pyatt, Uinta County Herald

via Bridger Valley Pioneer (WY) - Feb 7, 2020

 

EVANSTON — University of Wyoming Agricultural Extension, in cooperation with Utah State University Extension, held its 2020 WY/UT Ag Days at the Roundhouse in Evanston last week, Jan. 27-28.

 

Ranchers and livestock producers from the surrounding area attended the series of 16 workshops. Workshops were open and divided into two tracks of choices. Topics of workshops included: culling livestock, cattle and sheep feed and minerals, the wild horse issue, hemp 101 and its feed value, different forms of business ownership, small flock production, using social media and drone use in agriculture.

 

Keynote speakers during lunch were Mary Budd Flitner, discussing her new book “My Ranch Too – A Wyoming Memoir” on Monday, and on Tuesday at noon, Bridger Feuz with UW Extension discussed the livestock market outlook.

 

According to Feuz, the economy, when it comes to the livestock market, has remained fairly steady. He said that the downturn in 2009 during the recession began to move upward in 2010 and has seen steady growth through 2019.

 

“In 2014, the beef demand index (an index based on beef prices and consumption) began to go up and has remained stable,” Feuz said. “Per capita consumption of beef hit a low point in 2015, but the market stayed up. This drop coincided with record-high retail beef prices in 2015. The high cost for the consumer caused a slump in consumption rates even though the market stayed up because they were paying more for what they were consuming.”

 

U.S. expenditures showed that there was less disposable income (3% on average) spent on beef in 2019. The economy...

 

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