Trade in the Beef Industry
While trade has been a very big story this year for some farmers, it's a different story altogether for ranchers.
Mark McCully, chief executive officer at the American Angus Association, sheds some light on what's happening in the beef industry where trade is concerned...
Pork and beef producers are celebrating a U.S. trade agreement with Japan that once implemented will help return U.S. pork and beef to a level playing field in the world's most competitive red meat import market.
The agreement was announced on Sunday at the G7 summit in France during a press conference with U.S. President Donald Trump, Japanese Prime Minister Shinzo Abe and U.S. Trade Representative Robert Lighthizer. According to Reuters, Trump and Abe said they hoped to sign the agreement in New York next month.
U.S. pork depends highly on exports, shipping more than 25% of total production to foreign markets. Dr. Dermot Hayes, an economist at Iowa State University, estimates exports to Japan will grow from $1.6 billion in 2018 to more than $2.2 billion over the next 15 years as a result of the U.S. pork industry gaining market access in Japan as fa
He also discussed the impact of Fake Meat on the Beef industry, which we will discuss tomorrow.