(Washington, D.C.) -- The beef export outlook for the second half of 2020 is strong for the United States, according to the U.S. Meat Export Federation.
Dan Halstrom, president and CEO of USMEF, recently updated cattle producers on the state of U.S. beef exports at the Cattle Industry Summer Business Meeting in Denver. Despite a recent dip in export volumes due to interruptions in production, Halstrom says two major trade agreements should help the country the rest of the year.
“Finally, we are looking forward to some tailwinds after having some significant headwinds in 2018 and 2019,” Halstrom said. “There is no bigger deal than the Japan-U.S. Agricultural Agreement that was implemented January 1, 2020. It’s our largest export market with a value of almost $2 billion.”
The U.S.-Japan Trade Agreement lowered Japan’s import duties on U.S. beef to match those imposed on major competitors. Halstrom added that the U.S. beef industry is just beginning to reap the benefits of the U.S.-China Phase One Economic Trade Agreement.
“The deal was signed on January 15th and implemented in March,” Halstrom said. “There were really some significant changes for the beef side which benefited us. We had the removal of age restrictions for U.S. products, removal of traceability requirements for U.S. products, and China adopted the codex maximum residue levels for synthetic hormones. China has a commitment for a large purchase over the next two years of U.S. agricultural products.”
Through May, U.S. beef exports to China were up 66 percent from a year ago to just under 5,000 metric tons, with value up 71 percent to $39 million.
The Link LonkAugust 05, 2020 at 08:30PM
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USMEF: Beef export outlook promising | AG | kmaland.com - KMAland
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