Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   

Beef Buzz News


USMEF's Korean Director Says U.S. Exporters' Tariff Advantages Grow Due to FTA

Tue, 04 Dec 2012 16:02:36 CST

USMEF’s Korean Director Says U.S. Exporters' Tariff Advantages Grow Due to FTA
With exports of both U.S. beef and U.S. pork to South Korea being lower than in 2011, some observers may question whether the Korea-U.S. Free Trade Agreement - which took effect in March - is living up to its promises.


But as Jihae Yang, Korea director for the U.S. Meat Export Federation (USMEF), explains, although the meat trade with Korea is actually down this year due to unusual circumstances, the United States is experiencing a significant market advantage over Australia.


"The phase-out period for tariff reduction is 15 years for beef. So, as of January 1st of next year, the tariff for beef will be 34.7 percent, but there is still 5.3 percent tariff advantage from 40 percent for Australian beef. So I think that will expedite the smooth flow of chilled beef and also, of course, the FTA will moderate the increasing price of the U.S. beef imported into the Korean market."


Yang says the difference in price between U.S. beef and Australian beef is because the United States has a free-trade agreement in place with the Koreans, Australia does not.


A surge in Korean domestic beef slaughter of culled cattle accounts for the dampened demand for imported beef overall in 2012. Korea slaughtered 115,000 head in September, a 75 percent increase over last year. Their year-to-date slaughter is about 22 percent ahead of last year.


Domestic beef prices in Korea recently averaged about $5.15 per pound - down only slightly from last year, but 15 percent lower than in 2010. As a result, Korea's beef imports from all sources (through October) are down 14 percent to 249,461 metric tons (mt). Import volumes are lower from all three of Korea's main beef suppliers: Australia (125,659 mt, -11 percent), the United States (91,705 mt, -16 percent) and New Zealand (28,059 mt, -19 percent).


Yang says she sees very strong opportunities in the near future for processed pork products, noting that USMEF's first processed pork showcase in Korea this week has drawn tremendous interest from local importers.     



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.


   


   

Jihae Yang talks about early advantages of the U.S.-Korea FTA.
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 

Beef News

  • Derrell Peel Sees Beef Cow Culling to Set All-Time Record by the Fourth Quarter of 2022  Mon, 26 Sep 2022 10:03:22 CDT
  • Integrity Beef Helping Producers Develop Value Added Cattle  Fri, 23 Sep 2022 11:18:28 CDT
  • OCA's Michael Kelsey Likes Pond Cleanout and Drilling Water Wells as Possible Investments of Emergency Drought Funds  Thu, 22 Sep 2022 10:58:02 CDT
  • Iowa Cattleman Tells Lawmakers About Improvements Needed in EQIP and CRP  Wed, 21 Sep 2022 10:21:45 CDT
  • Beef Demand Remains Stronger than Anticipated Despite Stubborn Inflation   Tue, 20 Sep 2022 09:41:19 CDT
  • As Drought Persists, Cow Herd Liquidation Continues   Mon, 19 Sep 2022 10:03:30 CDT
  • Integrity Beef Receives Climate-Smart Ag Grant to Ensure Longevity and Sustainability of the American Ranch  Fri, 16 Sep 2022 09:35:58 CDT
  • Hereford Breed Continues to Provide Value to Cattlemen as Demand Remains Strong  Thu, 15 Sep 2022 09:00:11 CDT
  • Consumers Keep Buying Beef, but Many Looking for Ways to Keep Cost Per Meal Affordable  Wed, 14 Sep 2022 10:42:26 CDT
  • Decades of Work by Beef Industry Yields a Billion Dollars Monthly in Beef Exports   Tue, 13 Sep 2022 09:44:36 CDT
  • Biden Administration Hurries to Finish Their Finalized Rule on WOTUS- Ignoring Supreme Court Arguments in October   Mon, 12 Sep 2022 10:53:15 CDT
  • Mary Thomas Hart says Livestock Regulatory Protection Act is a Top Priority for NCBA  Fri, 09 Sep 2022 08:54:03 CDT
  • Cattlemen's Congress- The Mecca for Domestic and International Cattle Producers  Thu, 08 Sep 2022 09:58:03 CDT
  • PJ Budler Working with Cattlemen's Congress to Make it a Premier Destination for International Cattle Producers  Wed, 07 Sep 2022 09:37:02 CDT
  • As Concerns Over China Rise, They Remain a Top Tier Destination for US Beef  Tue, 06 Sep 2022 10:39:19 CDT
  • ICYMI- OSU's Rosslyn Biggs talks Rural Vet Shortage Across the Country   Mon, 05 Sep 2022 12:37:29 CDT
  • Beef. It's What's for Dinner. Remains a Top-Tier Brand to Consumers   Fri, 02 Sep 2022 08:52:58 CDT
  • USDA Proposal on Electronic ID Tags Only for Animal Disease Traceback   Thu, 01 Sep 2022 10:01:40 CDT
  • NCBA Supportive of Cattle Electronic ID System to Aid in Disease Traceability  Wed, 31 Aug 2022 09:10:48 CDT
  • OSU's Derrell Peel Sees Tighter Cattle Numbers Translating Into Falling Beef Production  Tue, 30 Aug 2022 10:18:19 CDT
  • FSA Administrator, Zach Ducheneaux, Working to Continuously Improve Assistance Programs for Cattle Producers   Mon, 29 Aug 2022 10:04:40 CDT
  • Jaymelynn Farney Provides Insight on Good Forage Options for Cattle Producers in Fall 2022  Fri, 26 Aug 2022 10:20:15 CDT
  • Cover Cropping a Valuable Strategy for Ranchers, says Jaymelynn Farney   Thu, 25 Aug 2022 13:16:08 CDT
  • Hay Supplies are Short and Likely to Get Worse, Says Cattle Marketer Bob Rodenberger   Wed, 24 Aug 2022 08:00:08 CDT
  • Significant Decline in Female Numbers Coming in 2023 says Derrell Peel   Tue, 23 Aug 2022 09:48:22 CDT
  • USDA August Cattle on Feed Report Run-Down with Derrell Peel  Mon, 22 Aug 2022 10:14:46 CDT
  • Upcoming Webinar to Educate Cattle Producers about the Newest Pest Threatening the Industry  Fri, 19 Aug 2022 09:06:31 CDT
  • NCBA's Kent Bacus Says Beef Exports Looking Great in 2022- But There's Still Trade Challenges to Conquer  Thu, 18 Aug 2022 09:16:08 CDT
  • Dr. Glenn Tonsor Sees Red Ink Disappearing Soon in His Latest Feedlot Closeouts  Wed, 17 Aug 2022 09:24:01 CDT
  • Everyone Has a Role in Beef Sustainability, says Debbie Lyons-Blythe   Wed, 17 Aug 2022 05:02:31 CDT
  • OSU's Rosslyn Biggs talks Rural Vet Shortage Across the Country   Mon, 15 Aug 2022 11:14:52 CDT
  • Producer Owned Beef Processing Plant to Break Ground in Early 2023 in Amarillo  Fri, 12 Aug 2022 09:27:19 CDT
  • NCBA Chief Veterinarian Kathy Simmons talks about a New Threat to Cattle Producers, the Asian Longhorned Tick   Thu, 11 Aug 2022 10:11:48 CDT
  • Factors to Consider When Planning for Drought with Dr. Laura Goodman  Wed, 10 Aug 2022 10:14:29 CDT
  • OSU's Dr. Laura Goodman Provides Strategy for Optimizing Forage Growth in Dry Conditions  Tue, 09 Aug 2022 09:07:33 CDT

  •  

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.
       

       

    Search OklahomaFarmReport.com

    © 2008-2022 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.