Beef Imports and Pricing
A global beef packer is attempting to convince the U.S. to increase beef imports.
However,
imports won't lower beef prices. The actual solution lies in protecting the U.S. market from an influx of cheaper imports.
Key Facts
- The U.S. beef cow herd is the smallest it has been in seven decades.
- Domestic beef demand and consumption have increased over the past decade.
- Cattle have commanded the highest nominal prices in history for the past 2.5 years.
- Consumers have paid the highest nominal beef prices in history for the past 5.5 years.
These facts, supported by data from the U.S. Department of Agriculture and Kansas State University, are now being discussed by major media outlets, highlighting the current state of cattle supplies and beef prices.
Author's summary: Beef imports won't solve pricing issues.
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