February 22, 2023 | View PDF
Katelyn McCullock, Livestock Marketing Information Center (LMIC) director and senior agricultural economist, will be speaking at the MonDak Ag Days & Trade Show March 2 and 3.
LMIC is a non-profit cooperation between land grant universities, USDA and industry partners that was established in 1955 to collect data for market analysis that is made available to participants, and support Extension efforts. This is beneficial as it reduces the time, energy and resources each state would have to put forth to collect the data themselves. Montana State University re-joined the LMIC this year, for a total of 28 land-grant universities belonging to the organization.
"This idea pre-dates computers and the internet, and so the center has evolved to provide more market analysis, forecasts, presentations and expertise in addition to the data that we house and distribute from our USDA partners," McCollock explained. "We generate market analysis content on commercially produced animal agriculture and feed grains. As the senior economist I provide market analysis for dairy, cattle, hay and corn as well as coordinate the other forecasts in the office on hogs, soybeans, chickens, turkey and sheep."
McCullock, who has been in her current position at LMIC for the last five years, will be giving a cattle market update during the MonDak Ag Days & Trade Show, and discussing the current drivers of supply and demand and how they will affect cattle producers.
"The last few years have been tricky with COVID throwing a lot of curveballs. Four years out and we are still dealing with some of those effects, as well as the Ukraine-Russian War, drought, a weakening economy, and declining cattle supplies. Each of those adds a layer of nuance to the market situation and some have longer term effects than others," she commented. "There are quite a few issues moving the markets this year and I think a key take-away is that volatility will likely continue, because of the sheer number of big picture influences happening at this time."
The MonDak Ag Days & Trade Show is a Sidney Area Chamber of Commerce and Agriculture event and will be happening at the Richland County Event Center, Sidney. There will be a banquet held at 6 p.m. Thursday March 2 at the Sidney Elks Lodge. To purchase banquet tickets or for more information, contact the Sidney Area Chamber of Commerce and Agriculture at 406-433-1916 or visit their Facebook page at facebook.com/mondakagdays.