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Beef Buzz News


Experts Agree Strong Global Demand For U.S. Beef Should Continue in 2021

Wed, 03 Mar 2021 08:10:24 CST

Experts Agree Strong Global Demand For U.S. Beef Should Continue in 2021 Strong global demand for U.S. beef is boosting the market said Kent Bacus, senior director of international trade and market access for the National Cattlemen’s Beef Association.

Bacus was a presenter at the recent virtual winter NCBA policy conference and was optimistic about the prospects of trade.

I definitely think so, Bacus said.

Foreign demand for U.S. beef has never been higher, he said.

We were able to secure several trade victories in the past several years to set us up to capitalize on the strong demand, especially in Asia and Latin America, Bacus said.

He singled out China, Japan and Korea as major customers of U.S. beef today.

All of these are new opportunities, he said, noting the trade victories were on both tariff and non-tariff issues.

You look at 2018 the total import value for China for meat and poultry was around $10 billion, he said.

Last year that number was at $28 billion!

One of the exciting things to look forward to is we are in a much better position than our competitors, Bacus said.

The U.S. is also working on trade with UK and the African nations, he said.

Also chiming in on trade prospects during the virtual NCBA conference was Kevin Good, economist with CattleFax.

We’re optimistic, he said.

We finished very strong at the end of 2020 and so far, the sales data would suggest it will continue strong, Good said.

Our product is more affordable in the Asian market as their currency is higher, making our product more affordable, he noted.

The CattleFax economist said we should also expect fewer imports, except for South America where their currency is devalued so we will see more beef imports from South America.

Click on the LISTEN BAR below to hear more comments from Kent Bacus and Kevin Good.

The Beef buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is 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.

   
   

Ron Hays Beef Buzzes With Kent Bacus and Kevin Good
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