Beef Exports Value Estimated at $1 Billion For U.S. Cattle Producers, Says Dr. Derrell Peel
Oklahoma Farm Report
14 May 2020
One billion dollars is a lot of money! Thatís the estimated value assigned to beef exports for U.S. cattle, says Dr. Derrell Peel, OSU livestock economist. Peel was one of several presenters in an on-line webinar this week coordinated by Texas AgriLife Extension, West Virginia University and North Dakota State University.
Global beef trade is growing, Peel said, especially in China as well as in Japan, Mexico, Canada and South Korea.
The OSU economist said trade is essential to maximize value.
It allows us to export things we donít have much demand for here in this country, Peel said. Those things include byproducts and certain low valued muscle cuts.
Trade with China is especially intriguing as Dr. Peel said even a small increase in exports adds up quickly.
If we could get 5 percent of current Chinese beef imports, Peel said, that would add about 9 percent to our total exports. That would be a huge increase because right now we export about one percent.
A question sent in during the webinar asked if Chinese consumers knew they were buying American beef...
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