Despite the Noise on Trade Wars and Tariffs, US Beef Exports are Holding Their Own Says Jim RobbTue, 19 Jun 2018 10:47:02 CDT
Last year was an especially great year for US beef exports, according to Jim Robb of the Livestock Marketing Information Center referencing recent data compiled from the US Meat Export Federation. In an interview this week, he remarked to Radio Oklahoma Ag Network Farm Director Ron Hays, that so far, 2018 has turned out to be pretty good as well - beating the previous year, in fact, especially in the Asian markets.
“They’ve been really strong this year,” he said. “South Korea, Taiwan, Japan have all been real strong and then some of the other markets around the world.”
Last month, Robb says the US actually exported beef to 93 different countries which is a real benchmark the industry likes to see as it works to broaden its reach and market share around the globe. While Robb says that is all good news, what is worrisome is the amount of political rhetoric on trade and tariffs being passed around among the various nations with which we trade with. Although the potential impacts that this “noise” might eventually have on world markets, Robb says so far, we haven’t actually seen any disruptions in the numbers. However, Robb explains that if at some point exports were interrupted - even in other proteins like pork or poultry - beef could be significantly impacted and vice versa as that unbought protein would have to be absorbed into the domestic market which would in affect bring prices down in order to move more product and thus create more competition among the different meat industries here at home. Essentially, all protein markets stand to lose indirectly if one or the other does directly.
“When you keep things kind of up in the air, I think it’s a bit of a negative but the quality of the product we’re producing and the rather strong incomes overseas have really been supportive,” he said. “So, these have somewhat counterbalanced some of the noise. But, there’s a lot of unknowns in that arena so we will have to wait and see how it unfolds.”
Listen to Robb and Hays discuss the impact political trade rhetoric is having on the fairly strong global export market for beef this year, 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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