Beef Buzz News
Despite All the Hubbub Over Trade These Days - US Beef Exports are Actually Doing Pretty Well
Thu, 12 Apr 2018 12:20:39 CDT
With all the uproar regarding trade these days, whether it’s NAFTA, TPP or tariffs on China - it is good to know that overall, the US beef industry is fairing quite well despite all the challenges. Extension Livestock Market Economist Derrell Peel told Radio Oklahoma Ag Network Farm Director Ron Hays in a recent interview that when you look at the actual data pertaining to beef exports, the numbers are really very strong.
Listen to Dr. Peel and Hays discuss the current trade climate for the US beef industry, on today's show
According to Peel, total beef exports for the month of February this year are up 10 percent year-over-year. The first two months of this year, are up as well by 12.6 percent suggesting relatively good strength in the marketplace.
“Now, we’re a tiny bit weaker in Japan which is our largest export market. A little bit weaker in Canada as well, but up significantly in most other markets,” Peel reported. “That’s important because we know we’re looking at record total meat production in the US this year.”
The one issue that has people worried most, though, is that the Trump administration is on the brink of sparking a trade war with China. Peel says even if China’s threats of retaliation don’t include beef, it could still very easy and quite significantly impact the industry indirectly if other agricultural sectors are affected. The important thing to understand at the moment, he says, is that none of the threatened sanctions have at this point been implemented.
“So, one hopes that leads to political discussions and some sort of resolution, but the uncertainty in the short run is a negative factor,” he said. “Should this turn into a full-blown trade war, it could be very devastating.
Listen to Dr. Peel and Hays discuss the current trade climate for the US beef industry, on today’s Beef Buzz.
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