Oklahoma's Latest Farm
And Ranch News
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Tuesday, December 10, 2024 | | | |
Dr. Derrell Peel Analyzes Beef Exports and Import Summary |
Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry as part of the weekly series known as the “Cow Calf Corner,” published electronically by Dr. Peel, Mark Johnson, and Paul Beck. Today, Dr. Peel summarizes Beef Exports and Imports.
The latest trade data for October continued recent trends in international beef trade. October beef exports were down just 0.3 percent year over year with the year-to-date total for the first ten months of the year down 2.6 percent (Figure 1). October beef imports were up 35.2 percent year over year in October with a January – October total up 22.5 percent over last year.
Japan has moved back into the top spot as the number one beef export market thus far in 2024, with a ten-month total unchanged from a year ago and a 21.8 percent share of total beef exports. Following closely is South Korea, in second place this year (down from number one last year), with a year-to-date total down 8.8 percent from last year and a 20.5 percent share of total beef exports. The combined China/Hong Kong market is number three, down 7.8 percent year over year thus far in 2024 and holding an 18.7 percent share of the beef export total. Mexico continues to show the strongest growth in major export markets with beef exports up 9.8 percent year over year thus far and an increasing 11.4 percent share. Number five Canada is down 7.2 percent in 2024 with an 8.5 percent share of beef exports. Taiwan is the number six beef export market with a year-to-date total down 2.6 percent and a 6.4 percent beef export share.
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if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
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Sponsor Spotlight
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Podcasts From Oklahoma Farm Report and More | |
Two of our regular reports are also podcasts that you can subscribe to- Our daily Farm and Ranch News with KC Sheperd- available here on the Apple Podcast Platform
The second is our daily Beef Buzz with Ron Hays- available here on the Apple Podcast Platform
Periodically- we offer interviews on our Ag Perspectives Podcast series- this podcast is available here.
Ron has also has a series of podcasts from interviews with newsmakers at the Cattlemen's Congress- Click here or you can find them on your favorite Podcast platform- look for them by searching for Cattlemen's Congress Conversations.
We are making plans to jump back into regular installments of what has been called the Road to Rural Prosperity- a new name and fresh content is in the works- for now- click on the blue button below for one of our favorites that is a timeless classic.
The link below is one of our most recent podcasts- Ron spotlighting the Life and Times of Dr. Kim Anderson, who has just retired from OSU.
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Our thanks to Midwest Farms Shows, P & K Equipment, Oklahoma Farm Bureau, Oklahoma Ag Mediation Program, Great Plains Kubota, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma Wheat Commission, Oklahoma AgCredit, the Oklahoma Cattlemens Association, Invenergy Oklahoma and KIS Futures for their support of our daily Farm News Update.
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We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
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God Bless!
Reach Out To Us:
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Tim West
President/General Manager
Rural Oklahoma Networks
405-317-6361
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Mike Henderson
Director of Sales
405-615-4922
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KC Sheperd
Farm Director
Radio Oklahoma Ag Network
405-443-5717
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Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
405.473.6144
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