US Beef Demand Looks and Feels Great Across AsiaMon, 10 May 2010 21:20:31 CDT
With official First Quarter 2010 beef export results due for release by USDA later this week, the outlook looks very bright in key Asian markets. Joel Haggard, U.S. Meat Export Federation senior vice president for the Asia Pacific region, has been reviewing the latest beef import data for these countries, and reports that U.S. beef is moving at a very strong pace compared to the same period last year.
Japan’s total beef imports have actually declined compared to last year, but its imports from the United States have increased sharply.
Imports from across the globe are up in markets such as South Korea and Hong Kong, but U.S. shipments are rising at a much faster pace than those from other major exporters.
Haggard also notes that Taiwan’s imports of U.S. beef are surging upward, despite the recent controversy over expanded market access. He says U.S. bone-in beef cuts, now allowed after an absence of six years, have been well-accepted in Taiwan.
Joel Haggard offers details of the success that we are seeing for US Beef in the Pacific Rim- all on today's Beef Buzz. And you can check out yesterday's Beef Buzz which offered a look at the Beef Short Rib story into Korea and other markets- and that demand is pushing the US wholesale boxed beef price substantially higher- click here for comments on this aspect of the story with USMEF Economist Erin Daley.
The Beef Buzz is a regular feature heard on radio stations around the state on the Radio Oklahoma Network- but is also 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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