Last week at their annual convention, the Beef Industry Long Range Plan task force addressed market volatility by whittling their typical 5-year plan down to a 3-year plan, giving them the ability to make adjustments annually, if not more often.
Charlie Mostek with Tyson said there are some specific measurements the plan targets. “We’re using the wholesale beef index as a measurement of our success in beef demand. We’re also going to have to develop some other measurements for some of the other core strategies that we’ve developed. We’re putting a focus on image that we’re going to need better measurements on. We’re putting a focus on gathering our own unity and understanding each other within the industry. Those will need separate measurements.”
Long range planning by the cattle industry is a group effort by the National Cattlemen’s Beef Association, the Cattlemen’s Beef Board and the Federation of State Beef Councils. But not only have livestock and farming members been added to the task force, other industries are now a part of the planning, including those from the meat packing, retail, and food service sectors.
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