Dr. Derrell Peel Talks Global Beef Update: Imports
consuming and importing countries in the into China/HK are forecast to increase in world. Total global beef consumption is 2022 and account for over 35 percent of forecast to increase slightly in 2022 with global beef imports. China/HK has been the increased consumption in China, Brazil, largest beef importing country since 2017. India, Mexico and Japan and decreased Beef imports in China/HK have increased total beef consumption in the U.S., Euro- 130.7 percent in the five years from 2017 to pean Union (E.U.), Russia, the United the forecast level for 2022. Beef imports in Kingdom (U.K.), and Canada. Total global China/HK have increased more than tenbeef imports are forecast to increase, rep- fold in the past decade. U.S. beef accounted resenting about 17.5 percent of global beef for nearly nine percent of China/HK beef consumption. Beef imports are forecast to imports in 2021. China is the second largest increase for the largest importers: China/ beef consuming and is the third largest Hong Kong (HK), U.S., Japan and South beef producing country in the world. Korea along with the E.U. Decreased beef The U.S. is the second largest beef Source: “Cow Calf Corner” by Dr. Peel imports are forecast for Chile and the U.K. importing country. China/HK exceeded the and Mark Johnson. China/HK continues to grow as the U.S. as the largest beef importer in 2017 and he recent USDA Foreign Agricultural largest beef importer in the world. Data for is expected to import 2.24 times more than Service bulletin on Livestock and China and Hong Kong are issued separately the U.S. in 2022. Prior to 2017, the U.S. was Poultry: World Markets and Trade pro- but are appropriately combined as the two typically the largest beef importing country vides a current summary of the major beef are effectively a single market. Beef imports except for the years 2010-2012 when Russia was a slightly larger beef importer than the U.S. The U.S. is the largest beef producing and consuming country. Japan is the ninth largest beef consumNEW Loan Production ing country but is the third largest beef importing country. Japan has consistently Office for Citizens Bank been the third largest beef importer since of Clovis in Moriarty, 2015. Beef imports in Japan have been relfocusing on Agriculture atively steady in recent years, but down and Business Loans slightly from a 2019 peak. South Korea is the fourth largest beef importing country in recent years with an average growth of two John M. Heckendorn, Vice President percent per year in the past five years. For 1209 US Rt 66, Suite C, Moriarty, NM 87035-3422 2022, the largest importers including China/ Office: 505-832-5092 • Cell: 505-379-8212 HK, U.S., Japan and South Korea are forecast www.cbcnm.bank to account for 65 percent of global beef imports. Other significant beef importing countries include Chile, U.K., E.U., Egypt, Malaysia and the Philippines. Collectively, these countries are forecast to account for another 19 percent of global beef imports in 2022. Brazil, India and Argentina are major beef consuming countries but do not Together, we'll develop a customized plan that's right for you. import beef. Call meLet's today to see how I It's your Call future. protect it. Although global beef trade is summame today to see can help protect yourhow I rized in terms of total quantities, it is can protect important to recognize that beef consists operation, family andhow future. Callhelp me today toyour see I operation, family and future. of many different products and most beef Together, we'll develop a customized plan right foryour you. canthat's help protect Larry Marshall Together, we'll develop a customized plan that's right for you. exports and imports are specific products Larry G. Marshall Larry Marshall AgWise Certified operation, family and future. It's your future. Let's protect it. moving between specific destinations for Dexter (575) 734-5415 AgWise Certified It's your future. Let's protect it. I 575.734.5415 Dexter Life Member specific uses. Trade in beef products helps Larry Marshall Roswell (575) 623-1020 Dexter I I 575.734.5415 Life Member Roswell 575.623.1020 AgWise Certified balance both the overall quantity of beef Artesia (575) 746-6544 Roswell I 575.623.1020 and the preferred mix of beef products in Artesia I 575.746.6544 ® Dexter I 575.734.5415 Life Member www.agentlarrymarshall.com MORT Artesia I 575.746.6544 ® various markets. Beef trade adds value for MORT Roswell I 575.623.1020 both exporters and importers and increases Larry MarshallArtesia I 575.746.6544 Larry G. Marshall ® the total value of the global beef
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