Posted by Chuck – February 1st, 2006
Press Releases are being posted on this site as soon as we have them available. You’ll be able to see them on the Press Releases page we’ve created. Here’s the latest one:
Beef Demand Dips Slightly In 2005
DENVER (Feb. 1, 2006) – Consumer demand for beef dipped slightly in 2005 but the Beef Demand Index remains up more than 20 percent since reversing its 20-year decline in 1998, Cattlemen’s Beef Board Chairman Al Svajgr announced at the Cattle Industry Annual Convention here today.
“We had such a stellar growth year for demand in 2004 that we didn’t top that mark in 2005 even though we continued to enjoy terrific strength in the market, including strong prices for cattle throughout the year,” said Svajgr, a cattleman from Cozad, Neb. The index decreased 3.6 percent in 2005 compared to that record growth in 2004, according to preliminary year-end results.
The Beef Demand Index is calculated based on a series of formulas developed by Dr. Wayne Purcell, director of the Research Institute on Livestock Pricing through Virginia Tech University’s department of Agricultural and Applied Economics. The Index now is monitored by Dr. James Mintert, a professor of agricultural economics at Kansas State University. The index reflects several specific factors, including per capita consumption and consumer retail spending for beef, but does not take wholesale beef prices into account.
To read the rest of the release visit the Press Releases Page.