110 The Importance of Recognizing Economic Factors Influencing the Beef Industry
Abstract The speed of development and adaptation of genomics in our industry as a tool for genetic improvement has been unprecedented. While its greatest contribution has been the enhancement of the predictive accuracy of performance traits, even greater opportunities may exist for the application of genomics in the arena of animal health. Interactions between immune system function and the microbiome is mission critical for an industry that may face increased pressure to find new animal health protocols for animal care. Better understanding of the incorporation of dry matter intake and residual average daily gain EPD’s into decision making will provide greater incentives to improve efficiency. Understanding the economic impact of incremental change in a EPD will aid decision making. A predictive blueprint of genomic characteristics of feeder cattle will allow producers and feed yards to merchandise feeder and fed cattle to specific markets. Greater connection of the beef industry across multiple segments will result in better understanding of the whole beef system. Increasing value within one segment can ultimately result in greater value across multiple segments and true price discovery. Understanding the important relationship of cattle to the environment and society will become increasingly important to maintain sustainable beef production. The natural and unique ability the beef cow possesses to utilize grass resources on lands not fit for cultivation and upcycle those resources to a nutrient dense food for human nutrition is unequaled in nature. This process is sustainable, totally regenerative and beneficial to the environment and society. Beef production is a valuable asset to both public and private grasslands and sustainability of our natural resources. Maintaining grazing on federal lands is good resource management for a viable beef industry. Opportunities exist for greater collaborations between producers, academia, breed associations and national organizations to solve problems and provide better educational opportunities.