Through the first half of the year, there aren’t any signs of producer appetite towards rebuilding the cowherd. As a result, this is shaping up to be an extended cycle. That possesses some important implications for the industry.
The producer’s share measure is of questionable value when it comes to evaluating the health or strength of the industry. That’s especially true if it’s being leveraged for policy purposes.
There’s no precedent to believe government regulation will lead to growth and/or prosperity - that only occurs through the work of the free enterprise.
Half of 2024 is in the rearview mirror, so let’s take a moment to review where we’ve been and explore the broader implications surrounding the business.
Genetic progress has led to a significant increase in the number of carcasses grading high Choice and Prime over the past decade. It is not a matter of luck, but the result of hard work and dedication.
Beef is winning, and camera grading in packing plants is helping ensure the quality and consistency specific brands require is being met. That, in turn, is helping beef gain market share.
