There’s a new online auction that could shake up the U.S. pricing model for cattle, reports globalpost.com. The auction made its public debut last week after a test run, with the support of the world's largest meatpacker. Exchange-operator CME Group Inc said the online auction was an effort to improve cattle futures after complaints about extreme volatility.
The Texas Beef Council is turning its attention to attracting younger eaters. The Texas Tribune reports beef consumption is down. Gone are the days of Fred Flintstone rib eye slabs that were common in the 1970s.
Oklahoma ranks number five in the nation when it comes to the number of cattle, but years of drought and high market prices are fueling a sell-off, and experts worry that the $4.5 billion dollar industry is in a downward spiral that will be difficult to recover from according to an article from StateImpact Oklahoma.