Beef Buzz News
To Create Jobs- Pass the Free Trade Agreements- Keith Miller of USMEF
Tue, 06 Sep 2011 06:36:34 CDT
Congress faces a busy agenda when it returns from August recess, but U.S. Meat Export Federation (USMEF) Chairman Keith Miller says few items can offer as much immediate benefit to the struggling U.S. economy as ratification of pending free trade agreements (FTAs) with South Korea, Panama and Colombia. Miller is our guest on today's beef Buzz. Click on the LISTEN BAR below to hear his comments.
Ron Hays Beef Buzzes with Keith Miller of the USMEF on the urgency of passing the Free Trade Agreements with Korea, Panama and Columbia.
USDA has estimated that approval of the Korea-U.S. Free Trade Agreement would boost total U.S. agricultural exports by $1.9 billion. Approval of the U.S.-Panama Trade Promotion Agreement and the U.S.-Colombia Trade Promotion Agreement would increase ag exports by $371 million and $46 million, respectively. Based on an estimated 8,400 jobs supported by every $1 billion in exports, these FTAs will help create nearly 20,000 sorely needed U.S. jobs.
The U.S.-South Korea FTA is projected to boost U.S. beef exports to more than $1 billion per year over the 15-year implementation period. For pork, U.S. exports would more than double by 2016. The Colombia and Panama FTAs would add an estimated $35 million in beef exports and about $25 million in pork exports by 2016.
Miller, a farmer-stockman from Great Bend, Kan., adds that ratification of the FTAs has taken on an even greater sense of urgency now that key competitors are moving forward on trade agreements of their own. The European Union (EU) has recently implemented advantageous agreements with Korea, Colombia and Peru, while Canada has also implemented an FTA with Colombia. Australia, which is by far the United States’ biggest competitor in the Korean beef market, is said to be very close to finalizing an FTA with Korea that would provide a price advantage for Australian beef exports. Korea’s duties on beef imports are currently 40 percent, but would be reduced to zero over a 15-year timetable under these trade agreements. So, the supplying country that is first to have its duties reduced will gain a price advantage that will last for many years.
Despite import duties as high as 30 percent in Panama and a whopping 80 percent in Colombia, U.S. beef has made initial inroads into these markets. Through June, year-over-year beef exports to Panama are up 36 percent in value to $2.2 million, while exports to Colombia have more than tripled to $1.9 million. The FTA with Panama would immediately eliminate duties on Choice and Prime cuts and some offal items, while phasing out most other duties over 15 years. The FTA with Colombia would open the market to an unlimited volume of duty-free Choice and Prime cuts while establishing a duty-free quota for variety meats and other muscle cuts.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the listen bar below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Japan Lifts 30-Month Rule on US Beef Imports, Creates Room for Potential $200M in Additional Value Mon, 20 May 2019 11:59:19 CDT
NCBA's Colin Woodall Encourages Producers to Hang Tough as US-China Trade Talks Flare Up Fri, 17 May 2019 12:08:49 CDT
US Meat Exports Fail to Meet Expectations During First Quarter of 2019, Will this Trend Continue? Thu, 16 May 2019 11:31:30 CDT
Time to Turn Heat Up on Trade Talks with Japan, Bacus Says It's Been on the Backburner Too Long Wed, 15 May 2019 09:50:39 CDT
US-China Tensions Flare as Trade Talks Near End, NCBA's Kent Bacus on Trump's Hardball Strategy Tue, 14 May 2019 10:36:10 CDT
Beef Industry Leaders Form International Coalition to Advocate for USMCA's Speedy Ratification Mon, 13 May 2019 10:45:22 CDT
Donnell Brown Proclaims Efficiency the Next Great Frontier, Genomic Enhancement will Get Us There Fri, 10 May 2019 05:37:48 CDT
Slow Corn Planting Caused by Recent Rains Dampen Spirits in Cattle Industry, Derrell Peel Explains Thu, 09 May 2019 10:42:38 CDT
Generational Transfer Happens Whether We're Prepared for it or Not - So Why Not Plan Ahead Now Wed, 08 May 2019 10:08:19 CDT
Food Industry Leader John Patrick Lopez Says Sharing Agriculture's Story is Everyone's Responsibility Tue, 07 May 2019 10:55:34 CDT
OKC-Based Processor Behind McDonald's Non-Frozen Beef Menu Brings Chain Some Fresh Sizzle Mon, 06 May 2019 11:41:35 CDT
Greenhouse Gas Guru, Mitloehner, Says Cow-Fart Protestors Spread More Manure than Beef Industry Fri, 03 May 2019 12:08:47 CDT
BQA Program Continues to Benefit, Improve US Beef Industry as More Producers Commit to Quality Thu, 02 May 2019 10:03:30 CDT
Producers Crying Over Spilt Milk as Dairy Herd Liquidation Continues to Impact Beef Cattle Market Wed, 01 May 2019 10:34:19 CDT
US Beef Export Sales Down Slightly During Q1 Compared to Record 2018 Sales But Volume Still High Tue, 30 Apr 2019 11:31:45 CDT
Governor Kevin Stitt Signs Priority Legislation Protecting the Integrity of Beef in the Marketplace Mon, 29 Apr 2019 11:54:18 CDT
Emerging Segment in Beef Pipeline Gains Importance - Rabo Analyst Don Close Explains Grow Yards Fri, 26 Apr 2019 10:05:33 CDT
Angus Association President John Pfeiffer Shares Experience Attending the World Angus Secretariat Thu, 25 Apr 2019 10:51:38 CDT
What Will It Take to Improve the Way Cattle Futures are Traded? Dr. Joe Janzen Has a Few Ideas Wed, 24 Apr 2019 10:34:52 CDT
Opportunity Abounds for US Beef - USMEF's Greg Hanes on Tapping New and Growing Markets Tue, 23 Apr 2019 10:16:02 CDT
Incoming Beef Board CEO Greg Hanes Shares Secrets on the Art of Marketing Beef Internationally Mon, 22 Apr 2019 11:01:24 CDT
Cattle on Feed Up 2% - OSU's Derrell Peel Breaks Down the Numbers in this Month's USDA Report Fri, 19 Apr 2019 10:59:59 CDT
Certified Angus Beef Just Passed 1 Billion Pounds in Annual Sales, But Can They Really Hit 2 Billion? Thu, 18 Apr 2019 10:17:19 CDT
Speculation Swirls Over Potential Opportunities for US Meat Industry in Wake of African Swine Fever Wed, 17 Apr 2019 10:36:17 CDT
Register Now to Attend the 2019 Hemphill Beef Cattle Conference Featuring Dr. Temple Grandin Tue, 16 Apr 2019 10:22:45 CDT
Monday April 15th is Deadline for Submitting Comments to EPA on Waters of the US Rule Sun, 14 Apr 2019 14:25:12 CDT
Consumer Priorities Can Change, But These 3 Things Never Fall Off the List - Taste, Flavor, Juiciness Fri, 12 Apr 2019 10:18:04 CDT
CAB: 1 in 5 Fed Cattle in North America Hit Certified Angus Specs Thanks to Producers' Commitment to Quality Mon, 15 Apr 2019 05:02:54 CDT
Beef Industry's Digital Strategy Beginning to Reach Maturity as Millennials and Gen-Z Come of Age Wed, 10 Apr 2019 10:21:56 CDT
That Chuck is One Quick Study - Alisa Harrison Explains How Industry's New AI Spokesman Works Tue, 09 Apr 2019 10:48:32 CDT
Simmental Association Launches Exciting New Project Designed to Expand Carcass Data Collection Mon, 08 Apr 2019 11:26:50 CDT
NCBA's Colin Woodall Says Green New Deal Only Helps Strengthen Beef Industry's Credibility Fri, 05 Apr 2019 14:09:25 CDT
China Trade Talks Seem to be Progressing Well, But You Know China... You Really Never Can Tell Thu, 04 Apr 2019 12:18:11 CDT
Flooding Less Devastating Than Thought with Damage at Just a Fraction of Early Estimates Wed, 03 Apr 2019 12:10:47 CDT
Analyst Randy Blach Says Margins a Little Tight This Year, But Cow/Calf Sector Remains Profitable Tue, 02 Apr 2019 12:48:41 CDT