Beef Buzz News
Beef Exports Value Estimated at $1 Billion For U.S. Cattle Producers, Says Dr. Derrell Peel
Thu, 14 May 2020 17:14:33 CDT
One billion dollars is a lot of money! Thatís the estimated value assigned to beef exports for U.S. cattle, says Dr. Derrell Peel, OSU livestock economist. Peel was one of several presenters in an on-line webinar this week coordinated by Texas AgriLife Extension, West Virginia University and North Dakota State University.
Ron Hays Beef Buzzes With Dr. Derrell Peel
Global beef trade is growing, Peel said, especially in China as well as in Japan, Mexico, Canada and South Korea.
The OSU economist said trade is essential to maximize value.
It allows us to export things we donít have much demand for here in this country, Peel said. Those things include byproducts and certain low valued muscle cuts.
Trade with China is especially intriguing as Dr. Peel said even a small increase in exports adds up quickly.
If we could get 5 percent of current Chinese beef imports, Peel said, that would add about 9 percent to our total exports. That would be a huge increase because right now we export about one percent.
A question sent in during the webinar asked if Chinese consumers knew they were buying American beef.
In most cases it probably is marked as U.S. beef because that is a typical marketing tactic, Peel said.
Click on the LISTEN BAR below to hear more comments from Dr. Peel as he talks about the value of beef exports.
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 todayís show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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