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Beef Buzz News


Impact of Increased Beef Exports to Japan Will be Huge, USMEF Chief Says

Wed, 13 Feb 2013 14:36:58 CST

Impact of Increased Beef Exports to Japan Will be Huge, USMEF Chief Says
The United States beef producer has a strong advocate in Phil Seng. He is the president and CEO of the U.S. Meat Export Federation. In his early years with the organization in the 1980s he was the country director for Japan. He is, perhaps, the most uniquely qualified expert to assess the impact of Japan's move from a 20-month standard to a 30-month standard in regards to beef imports.


"It's huge because the United States, number one, is going to have much more cattle eligible. Under the old system we had only about 20 to 25 percent of our cattle that are presented for slaughter that were eligible for Japan. This will bring about 90 to 95 percent of the cattle eligible which will offer a lot more product to be able to go to the Japanese market.


"We estimate right now that that will probably add about another $20 to the value of a fed steer. So, right now, about $215 is the export dividend. As a result of that, that could possibly go up by another $20. So it's huge what it means to the producer. It's huge what it means to the exporter and most of all it's very good for the Japanese. They have a shortage of product in the market. It's going to help them as far as kick-start their economy. Their government just contributed, under the new Abe administration, $150 billion dollars to stimulate the economy. So the fact that we can have more of our product going in there at that timing, the timing is perfect. It's almost like a gift from the government. They open their market. They stimulate their economy. Let's make some hay when the sun shines."


Seng says the infrastructure in Japan is primed and ready for the additional imports.


"The infrastructure in Japan is ready to go. The announcement that was done on the 28th of January announced it was going to open up on the 1st. All of the procedural things that had to be taken care of were taken care of prior to that. So, right now, our exporters, all the major packers and everybody, are putting up product for this LT30."


The impact for U.S. exporters across the board can't be underestimated, Seng says.


"It's going to be big from the standpoint of variety meats. It's been limited as to the eligibility of variety meats. Japan is a huge buyer of tongues, of mountain chain tripe and these areas. These products are going to go into Japan at a much higher pace."


He says that means the drop credit is bound to go higher.


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.




   
   


Phil Seng says beef producers will see huge benefits from increased exports to Japan.
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