The Arizona Cattlemen's Association Industry News - October 26, 2007 - Industry Briefs
Market Highlights

At press time, fed cattle trade had only developed in Nebraska at $143 dressed on light volume. Trade was $2 lower than last week. Fed trade in the South was not established. Feeder cattle values ranged from steady to $1 to $4 lower. Calf values were mixed from $2 higher to $3 lower. Market cow prices ranged from $1 higher to $1 lower. Through Thursday, boxed beef values were lower and the Choice/Select spread widened $1.28 to $13.57. Choice declined $2.01 at $143.39 and Select was $3.29 lower at $129.82.

Future Bright for Livestock Producers

Global population growth will provide a large opportunity for meat producers, according to a recent report from the United Nations' Food and Agriculture Organization. With current population growth at 78 million per year, the earth's population will reach 8 billion by 2030.

An additional 1 billion meat-eaters will double the demand for meat over the next 20 years. While the report states that much of the increased production and consumption will come from developing countries, growth of that magnitude will allow expansion for suppliers at all market levels. Over 115 billion pounds of beef were consumed globally last year; over 20% of it was consumed in the U.S.

US Beef to Korea Not Likely Until '08

U.S. beef is unlikely to regain entry to South Korea until at least early 2008. Expanded access to the Japanese market is also likely to be delayed until then. That is the reality as negotiations with both countries on new import rules have made little progress. South Korea is insisting on maintaining the boneless, under 30-month age restriction on U.S. beef. Japan is adamant it will only relax its current under 21-month age limit to 30 months and under. The U.S. wants South Korea, Japan and all other countries to remove all age restrictions. Negotiations with Japan have also been hampered by Japan having a new government and five Agriculture Ministers in five months.
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