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Angus Productions Inc.
Copyright © 2011
Angus Productions Inc.

A Global Perspective
from Rabo AgriFinance

by Kindra Gordon for Angus Productions Inc.

DENVER (Feb. 3, 2011) — “The beef industry must continue to focus on efficiency, managing costs, beef safety and delivering consumers a product they can depend upon,” advised Bill Cordingley as he addressed attendees at the Cattle Industry Convention and NCBA Trade Show in Denver. Cordingley is managing director, food and agribusiness research and advisory, for Rabobank Americas.


During a luncheon session at the convention, he shared insights on global trends and conditions and the implications for the U.S. cattle industry. Cordingley noted that the beef industry is very much influenced today by the global marketplace.


“We’re seeing a robust rally of ag commodity prices, and that is being driven by international consumers,” he stated.


Along with that he also noted that volatility is now commonplace in the market. He explained, “Global demand keeps growing and global supply is not keeping up. Thus, volatility is inherent in the marketplace as the world scrambles for more product.”


Cordingley suggested that China will be an important global consumer to watch in the next 12 months.


“China has to have access to more food for social stability," he said. "They have a resource problem and an economic problem. As they try to industrialize their hog industry to address that, they will be importing more grain. They will need to access corn and, in the end, no matter who they get it from, it will force the global market.”


This is one example where Cordingley pointed out that higher costs to the grain industry and competition for resources are capping beef growth all around the globe.


Because of limited supplies of beef, Cordingley said he anticipates beef prices for 2011 will be very favorable.





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