BEEF’s annual State of the Industry survey shows that while short- and long-term optimism have diminished, most respondents accept the roller coaster challenges of raising beef.
Source: BEEF, June 2018., page 8. Link.
When analyzing the responses to the short-term and long-term questions, it becomes a glass-half-full outlook versus a glass-half-empty worldview. Indeed, how you perceive the challenges and opportunities around you colors your overall outlook on your business and life.
INSIGHTS: A quick review of the graphs yields key factors to discuss with producers regardless of whether they are optimistic or pessimistic:
- Input costs
- International and domestic demand
- Government regulation
- Consolidation
- Adjustments to forage, required or optional
- Herd size changes if any
- Changes to market weight targets