The 180-plus page book, titled “The U.S. Beef Supply Chain: Issues and Challenges” is the result of proceedings from an AFPC-hosted workshop on cattle markets held in June in Kansas City, Missouri.
The book puts into context a variety of disruptions in the cattle market, including the 2019 fire that took the nation’s second-largest beef packing plant offline for four months, the COVID-19 pandemic’s effect on packing plants, and significant disruption of beef supply chains.
“This is the product of a collaboration between the AFPC and the Office of the Chief Economist at the USDA,” said Bart Fischer, co-director of AFPC and one of the book’s editors. “The work originated from a request by the bipartisan leadership of the Committee on Agriculture in the U.S. House of Representatives during the 116th Congress.”
When preparing this book, the AFPC commissioned papers from noted experts around the country on a variety of topics. Fischer noted that while the book is “admittedly very technical and assumes a working knowledge of the industry,” a definition of technical terms has been provided wherever possible.In addressing the overall situation of the U.S. cattle market, the book is presented in 10 chapters to focus on some of its key aspects. The chapters are as follows:
— How We Got Here: A Historical Perspective on Cattle and Beef Markets.
— Price Determination and Price Discovery in the Fed Cattle Market.
— How Market Institutions, Risks and Agent Incentives Affect Price Discovery.
— Enhancing Supply Chain Coordination through Marketing Agreements.
— Another Look at Alternative Marketing Arrangement Use by the Cattle and Beef Industry.
— Market Reporting and Transparency.
— What Can the Cattle Industry Learn from Other Agricultural Markets That Have Limited Negotiated Trade?
— Implications of Fed Cattle Pricing Changes on the Cow-Calf Sector.
— Examining Negotiated Cash Trade Targets.
— Workshop Discussion Summary.
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