Weekly USMEF Audio Report: USMEF Economist to Address Global Protein Summit in Chicago
DENVER, CO – September 23, 2019 – U.S. Meat Export Federation (USMEF) Economist Erin Borror will offer insights on the factors impacting global beef and pork trade at the upcoming Urner Barry Global Protein Summit in Chicago. Borror’s presentations will be made at separate beef and pork breakout sessions on October 8. The full agenda for the Global Protein Summit is available online.
Borror notes that African swine fever (ASF) will be a primary topic in the pork session. China’s ASF outbreaks began just over a year ago and the world’s largest pork producer is now facing a steep reduction in its domestic supplies. Southeast Asia has also been significantly impacted by ASF and last week the disease was confirmed for the first time in South Korea.
Retaliatory duties have also had a significant impact on pork trade over the past year. Borror plans to discuss the rebound in U.S. pork exports to Mexico since duty-free status was restored in late May. She will also cover the ongoing trade talks with China and how these negotiations could open the door for new export opportunities. The U.S. pork industry is also poised to benefit greatly from the recently announced agreement in principle with Japan, though the full text and details of this agreement are not yet available.
Improved access to Japan will also be a major topic in the beef session, as the U.S. looks forward to tariff relief that could level the playing field for all competitors. China’s surging beef imports will also be discussed as China continues to solidify its position as the world’s largest import market. On the beef production side of the equation, Borror notes that Australia’s herd is once again contracting due to an extended drought and the outlook is for tighter supplies in most regions of the world.
The U.S. Meat Export Federation (www.USMEF.org) is the trade association responsible for developing international markets for the U.S. red meat industry. It is funded by USDA; the beef, pork, lamb, corn and soybean checkoff programs, as well as its members representing nine industry sectors: beef/veal producing & feeding, pork producing & feeding, lamb producing & feeding, packing & processing, purveying & trading, oilseeds producing, feedgrains producing, farm organizations and supply & service organizations.
Submitted to the BARN by:
Vice President, Communications
U.S. Meat Export Federation