Agricultural News
Colin Woodall Explains Why Trade Victories are a Big Deal for The Cattle Industry
Tue, 18 Feb 2020 10:10:53 CST
On today's Beef Buzz, Oklahoma Radio Ag Network Farm Director Ron Hays talks with Colin Woodall, CEO of the National Cattlemen's Beef Assoc. Woodall explains why recent trade victories are a big deal for the cattle industry.
Woodall said the trade victories are why the industry spends so much time on trade, and you can look at the innocuous beef tongue like a good example. In the U.S., a beef tongue sells for about a $1 per pound, Woodall said. In Japan, that same beef tongue goes for $13 to $15.
"That is a great return on something Americans just aren't eating," said Woodall.
In 2019 we were selling almost $2 billion of beef products to Japan with a 38.5% tariff. Reducing that tariff to 9%, and catching up with all our competitors is a huge win for our industry, said Woodall.
The NCBA CEO also talked about continuing to push the USDA to complete its study of the market impact on the Tyson plant fire last summer in Garden City, KS.
NCBA was the first group that had an official request with the USDA and CFTC to make sure things were working correctly, said Woodall. He noted it could have an impact on the reauthorization of mandatory price reporting requirements, which is up before the U.S. House and Senate Ag Committees.
"We want to make sure the markets work," said Woodall. He noted they have talked with many independent economists and the markets do indeed work, but maybe not always in your favor, depending on where you are at in the chain.
Click on the LISTEN BAR below to hear the complete interview with Colin Woodall. .
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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