Predicting demand will help boost profitability for beef farmers

Beef farmers can boost their profitability by predicting rather than reacting to demand, says Dr Pearse Lyons, president and founder of animal health and nutrition company Alltech.

Dr Lyons said globalisation is marching on and only businesses with a reliable market will outlast their competitors in the changing landscape. He said markets are opening up now, both domestically with growing demand for functional and traceable foods, and overseas in China and India.

“It’s not just about supply and demand; it’s about predicting where that demand will be and making sure that we can meet it. The world is opening up to beef and it’s no longer enough to react; proactive production is the only way to keep up with and profit from this changing landscape,” said Dr Lyons.

Capitalising on these beef market opportunities will be one of the questions discussed at Alltech’s seventh Global 500, taking place from Oct 1 to 3 in Dublin. Global farmers, owning more than two million cattle, will be represented at the symposium, held outside of the US for the first time.

Irish-born Dr Lyons founded Alltech in 1980. Its global headquarters is in Kentucky, USA. Earlier this week Alltech also unveiled plans to add an extra 100 jobs at its European headquarters in Dunboyne, Co Meath. Most of the new jobs will be in research and marketing roles.

Alltech’s symposium in Dublin will help beef producers identify where and how to access new market opportunities. Farmers will also be advised on how to streamline their business to ensure future profitability.

Topics will include: top ten opportunities for a more efficient, profitable and sustainable future; global beef industry outlook; feeding future herd performance; mining beef opportunities for profitability; and managing investments.

Last year’s Global 500 saw more than 700 delegates from 30 countries come to Lexington, Kentucky. The symposium will assess the reputational damage which “Horsegate” has caused for the EU.