CAB worries about US beef exports in the following years
Certified Angus Beef (CAB) looks a little bit worried about the outlook on some of the export markets that dominate the top 5 destinations for American beef. As the fed cattle supplies grow to the cycle peak and competing U.S. protein supplies become record large, preserving the current position on the most important export markets is important for all American beef producers and especially for the CAB labelled products, says Paul Dykstra, a CAB representative.
80% of the CAB exports are going to the top 5 destination countries: Canada, Japan, Mexico, South Korea and Hong Kong. "Tariff headwinds are unfavourable to further U.S. growth in Japan as our product loses out to Australia and Canada due to the U.S. absence in the Trans-Pacific Partnership", mentioned Dykstra in a point of view presented by Drovers magazine.
But what's to lose in Japan may be gained in South Korea if the association is to intensify efforts to access this market. "The Korean-U.S. Free Trade Agreement, however, presents further opportunity with the U.S. beef tariff in South Korea set to decline to 18.6% starting in 2019, and on a schedule to disappear by 2026", explained CAB expert. Also, a growth in sales was registered at the start of this fiscal year in Canada setting a path for a bigger presence of CAB products on this market.
(Photo source: Pixabay)
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