Industry At A Glance: Sources Of Market InformationIndustry At A Glance: Sources Of Market Information

With the backdrop of the recent government shutdown that has halted government price reporting, what are the sources that producers traditionally rely on for market information?

Nevil Speer

October 10, 2013

2 Min Read
Industry At A Glance: Sources Of Market Information

Timely market information is critical to the daily functioning of any and all commodity businesses – including agriculture. And agriculture is feeling the repercussions of the government shutdown. The fallout halted price-reporting services available through USDA, which possesses some important implications to the normal functioning of the market if the shutdown ends up being a lengthy one.

Meanwhile, budget cuts in recent years has also forced USDA to pare back some of its normal services. For example, USDA’s quarterly report indicating inventory of feeder cattle outside of feedlots is no longer available.

That discussion speaks to the importance of redundancy and/or alternative methods to track both supply and price of cattle, not to mention all agricultural products, within the industry. That said, the “2008 National Stocker Survey,” which was sponsored by Elanco Animal Health, Kansas State University and BEEF magazine, provides a good snapshot of how producers obtain current market information for decision-making within their respective businesses. The illustration details producer responses to the importance of various information sources.

common sources of cattle market data

Does this breakdown reflect your current perspectives on market information? What other sources might you rely when deciding how to market your cattle? How do you see market information services (both public and private) developing in the future to ensure access to reliable, consistent data? Leave your thoughts below.

 

You might also like:

Photo Gallery: Cattle Death Toll Rises As 'Atlas' Blizzard Recovery Continues

Government Shutdown: Scant Market Data Creates More Uncertainty

Rancher Details "Gut-Wrenching" Pain From Cattle Lost In SD Blizzard

Share This! --> Infographics Highlight Story From Gate To Plate

Corn Prices Continue Lower, And Cattle Prices Higher

About the Author

Nevil Speer

Nevil Speer works as an industry consultant based in Bowling Green, Kentucky.   He has experience in both academia and private industry.  His career includes working with several start-ups along with various service and consultation projects spanning a wide variety of topics.  

Dr. Speer holds a PhD in Animal Sciences from Colorado State University and an MBA from Western Kentucky University.

You can contact him at [email protected] 

Subscribe to Our Newsletters
BEEF Magazine is the source for beef production, management and market news.

You May Also Like