A recently published trade report analyzing the effects of American beef imports and exports highlights the strong economic value of the U.S. beef industry’s participation in a global marketplace.
The report, “Assessing Economic Impact That Would Follow Loss of U.S. Beef Exports and Imports,” was authored by Oklahoma State University’s Derrell Peel and Glynn Tonsor of Kansas State University.
The 80-page report was commissioned by the Kansas Beef Council, Oklahoma Beef Council and Texas Beef Council, and was released on Sept. 26.
Peel says he has spent decades answering questions concerning beef imports, and many people are not aware of the value of exports, believing more than enough beef is grown in the U.S. to sustain its population. His findings, he says, suggest otherwise.
“One of the main points that came out of this report is the recognition that while producers produce cattle as a single product, what they sell becomes thousands of different products,” he says. “The marketplace plays a big role in sorting out where the best value is for all those products that ultimately contribute to the overall value of cattle.”
The report shows that when opportunities are available, the U.S. exports specific products to certain markets, and the vast range of beef commodities helps the industry grow.
Peel and Tonsor’s research shows that a 10% reduction in beef imports and exports over a 10-year period would result in a $20 billion impact to cattle producers.
The full report is available through the Kansas State University’s Department of Agricultural Economics.