The Cost of Entering China's Market will be High, But NCBA's Kent Bacus Says It will Be Worth ItThu, 15 Jun 2017 12:30:00 CDT
While the prospect of having the opportunity to now export beef into China is very exciting news, National Cattlemen’s Beef Association’s Kent Bacus tells Radio Oklahoma Ag Network Farm Director Ron Hays, we are going to have to spend some money to get the job done.
“We certainly recognize that the costs of production are going to be higher when it comes to producing beef for China,” Bacus said, explaining that at first, there will be limited cattle that are eligible for export to China. “That’s obviously going to mean that our prices are going to be higher but you also have to keep in mind that China has a very diverse market and they have a very large market - a lot of unmet potential.”
Bacus says that China represents 1.4 billion people with a middle class that is larger than the entire US population, all hungry for high-end beef.
“They’ve become the second largest beef importer in the world,” he said. “While this is a smaller percentage of our cattle, there’s still going to be a lot of opportunities that develop in years to come.”
Listen to Bacus and Hays discuss the opportunities and challenges present as the US begins to develop its customer base in China’s marketplace, on today’s Beef Buzz.
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.
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