Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   

Agricultural News


2018 an Exceptional Year for US Beef Exports Especially in Asian Market Despite Current Challenges

Wed, 13 Mar 2019 10:59:00 CDT

2018 an Exceptional Year for US Beef Exports Especially in Asian Market Despite Current Challenges


The recent USDA release of the December livestock trade data, according to Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel, puts a bow on cattle and beef trade for 2018. For the year, beef exports increased 10.3 percent year over year and beef imports were nearly unchanged, up 0.2 percent. Total cattle exports increased 23.7 percent year over year while cattle imports increased 5.2 percent from one year ago. This article focuses on beef exports. In a recent interview, Peel says this report confirmed what most were already anticipating - another record year for US beef exports.


This report, delayed by the government shutdown earlier this year, indicates that US beef exports increased for a third consecutive year in 2018 to a new record level of 3.16 billion pounds. Beef exports were up to most major markets including Japan, up 6.6 percent; South Korea, up 35.0 percent; and Mexico, up 7.0 percent. Canada decreased 3.0 year over year while beef exports to Taiwan increased 34.4 percent from 2017 to a new record level.


Hong Kong is currently the number four market for U.S. beef and was down 8.5 percent in 2018. Trade data for Hong Kong are reported separately from Mainland China but it will be increasingly important to consider Hong Kong and China data jointly in the future. It is expected that expected that exports to Hong Kong (which include unofficial or “grey trade” movement of products into China) may decrease when U.S. beef exports to China grow. It has been reported recently that China has clamped down on grey trade coming through Hong Kong. Beef exports to mainland China in 2018 (the first full year of market access under current agreements) represented 0.7 percent of total U.S. beef exports. U.S. beef exports to China remain minimal due to the tariffs currently in place. Combined Hong Kong/mainland China beef exports were down 4.6 percent year over year in 2018.


Peel says the fact that significant growth was seen in the Asian markets, like Japan (the No. 1 market for US beef), is remarkable given the disadvantages the US beef industry has there with the Trans-Pacific Partnership now in effect and the intensified pressure of tariffs there.


Listen to Peel’s full analysis over the health of the US beef export business, with Radio Oklahoma Ag Network Farm Director Ron Hays, on today’s Beef Buzz - brought to you by the American Angus Association. America’s breed.


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.




   




   

Listen to Peel's full analysis over the health of the US beef export business, on today's Beef Buzz.
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Elizabeth Perkins Talks About Her Family's Results with Certified Angus Beef   Tue, 16 Jul 2019 17:31:53 CDT
  • Steer and Heifer Calves Were to Lightly Tested for an Accurate Trend Tuesday at OKC West Livestock Auction  Tue, 16 Jul 2019 17:10:43 CDT
  • Texas Rancher Kelley Sullivan Georgiades Calls on US House to Ratify USMCA for American Beef Producers  Tue, 16 Jul 2019 15:33:56 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Tuesday, July 16, 2019  Tue, 16 Jul 2019 15:22:15 CDT
  • Tuesday Market Wrap-Up with Justin Lewis  Tue, 16 Jul 2019 14:39:38 CDT
  • House Ag Subcommittee on Livestock Chairman Jim Costa Committed to Resolving Industry's Many Issues  Tue, 16 Jul 2019 14:23:31 CDT
  • House Ag Members Say Several Livestock Threats Being Addressed, But USMCA Approval Remains Vital  Tue, 16 Jul 2019 14:17:50 CDT
  • Tuesday Afternoon Market Wrap-Up with Carson Horn   Tue, 16 Jul 2019 14:14:50 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.