Seven years after repeal of mandatory country-of-origin labeling, a proposal has been introduced for the Secretary of Agriculture to “determine a means of reinstating” COOL, despite evidence of “no measurable benefits.”
Consumers have access to greater differentiation and higher-quality beef products now, more than ever. As a result, beef spending has outpaced the competition since 2000. Cattle prices have risen as a result.
There are challenges, no doubt, but 59% of producers plan to add a family member to their operation and 51% indicate they will increase their herd size in the next five years.
America’s beef cattle inventory continues to tighten, pushing market prices to record levels. Under normal conditions, that would lead to anticipation about building herds again. However, this cycle is anything but typical.
Higher prices on bigger volume is testament to the importance of building and maintaining efforts to boost beef demand. The industry’s focus on improved quality and consistency is paying dividends for U.S. producers.
