SAN ANTONIO, TEXAS (Feb. 3, 2005) — There was standing room only at the opening general session of the 2005 Cattle Industry Annual Convention and Trade Show, which kicked off Thursday, Feb. 3 in San Antonio. Keynote speaker Stuart Varney of Fox News addressed the crowd with an optimistic outlook for the U.S. economy in the next six to eight months. Varney, who was a replacement speaker for television news anchor Chris Wallace who was unable to attend because he was covering last nights’ State of the Union remarks by the President, called America a role model for the world and said the American economy is “way out front” compared to other countries. He attributes that positive position to job growth in America, the United State’s leadership in technology for everything from computers and pharmaceuticals to medical products, and the relatively low interest rates of the past couple of years.
Varney did point out that social and economic changes lie ahead for the world, primarily due to the population decline occurring in many developed countries.
But despite these anticipated changes, Varney’s outlook for the U.S. economy remained upbeat. “The housing boom, low unemployment, job creation, increased government spending, tax cuts and productivity above the norm are very good for America,” he said.
He pointed out fuel prices, health care costs, the federal deficit and household debt as challenges the United States needs to address, but said, “My prediction is that the pluses outweigh the minuses, and I think we’ll see 4% to 4.5% economic growth in the U.S. in the next six months.”
National Cattlemen’s Beef Association (NCBA) leadership also addressed attendees during the session with an enthusiastic outlook for the coming months in the beef industry. “This week I believe you’ll see we are headed in the right direction,” Jan Lyons, current NCBA president told the audience. She reported that recent polls reveal up to 75% of producers support the beef checkoff and that beef demand has increased dramatically since 1998.
Regarding the future, NCBA’s Jay Truitt discussed regaining access to closed markets saying, “We have to insist we get those export markets back.” In the capital, Truitt also emphasized NCBA’s ongoing efforts to enhance the business climate for the beef industry by working on issues such as the death tax repeal, tax relief for cattlemen, mandatory price reporting and animal ID.
Truitt urged all attendees to participate in the process of making their beef industry better. “Being here is half of it, but while you are here and when you return home you must make your voice heard,” he said.
— by Kindra Gordon, field editor, Angus Productions Inc.
© Copyright 2005 Angus Productions Inc.
Editor’s Note: This article was written under contract or by staff of Angus Productions Inc. (API), which claims copyright to this article. It may not be published or distributed without the express permission of Angus Productions Inc. To request reprint permission and guidelines, contact Shauna Rose Hermel, editor, at (816) 383-5270 or shermel@angusjournal.com.