Feed Lot

MAR 2018

Feedlots and cow/calf operations in the beef industry who feed 500 or more has annually on grains and concentrates; maintain 500 or more beef cows; backgrounder, stocker/grower, preconditioner; veterinarian, nutritionist, consultant

Issue link: https://feedlotmagazine.epubxp.com/i/948915

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Page 22 of 31

FEED•LOT  March 2018 23 Demand is especially strong in the Korean retail sector, where consumer confidence in the qual- ity and safety of U.S. beef continues to gain momentum. Korea's imports of U.S. beef are now subject to a 21.3 percent tariff, down f rom 24 percent in 2017 and well below the 4 0 percent rate in effect prior to implemen- tation of the Korea-U.S. Free Trade Agree- ment (KORUS). The tariff rate is scheduled to decline to zero by 2026. • Mexico remained the second-largest vol- ume market (237,972 mt, down 2 percent from 2016) and third-largest in value ($979.7 million, up slightly). It is an es- pecially important market for U.S. beef shoulder clods, rounds and variety meat. • Exports to Taiwan set a new value record, increasing 13 percent from a year ago to $409.7 million. Volume was up 2 percent to 44,800 mt. U.S. beef holds 72 percent of Taiwan's chilled beef market, the highest share of any Asian destination. Taiwan is a key mar- ket for secondary beef cuts such as the clod heart, petite tender and top sirloin cap. • Demand in Hong Kong rebounded from a slow start to post a strong performance in 2017, increasing 16 percent in volume (130,726 mt) and 29 percent in value ($884.1 million). After China's mid-year lifting of its ban on U.S. beef, exports to China totaled 3,020 mt valued at $31 million. While eligible supplies re- main limited due to China's import restrictions, the m arket holds significant growth potential and is al- r eady one of the highest value markets for U.S. beef on a per-pound basis. • Record exports to the Philippines and Singapore and strong growth in Indonesia and Vietnam pushed export volume to the ASEAN region up 37 percent to 40,954 mt, while value climbed 34 percent to $210.9 million. • Strong performances in Chile, Peru and Colombia led the way for U.S. beef in South America, where export volume increased 24 percent to 28,383 mt and value was up 23 percent to $114.8 million. Shipments to Brazil, which resumed in April after a 13-year absence, totaled 2,035 mt valued at $7.4 million. • Led by strong beef liver demand in South Africa, exports to Africa increased 78 percent in volume (22,001 mt) and 74 percent in value ($22 million). Since reopening to U.S. beef in 2016, South Africa has emerged as the sixth-largest destination for U.S. beef variety meat and second-largest for livers. FL

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