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Global demand matters to livestock producers’ bottom line

An ag economist says stagnant growth in global demand for U.S. red meat products makes it difficult for producers to be profitable.

University of Missouri’s Scott Brown says the Monthly Trade Data that’s released from the USDA’s Economic Research Service helps the industry benchmark demand trends. “Whether we’re seeing some of the other economies around the world that maybe are in a little better shape and are looking for more beef and pork in particular,” he says. “So whether we start to see some better news on that trade front, I think is important.”

He tells Brownfield China is always a factor.  “What they’re doing and whether we get any additional information there that suggests perhaps more pork headed to China here for the remainder of 2023,” he says. “I’m not sure that’s what we get out of the report, but we’ll certainly want to pay attention to that.”

For a full breakdown of this month’s trade information, tune in the Weekly Livestock Market Update Friday afternoon.