Monday, January 30, 2012

Cattle producers have wide eyes for Japan

Jamie Woodford
It only took nine years, but Canadian beef is finally making a comeback. South Korea lifted its ban last week that had been imposed after the 2003 BSE outbreak. Now the industry is looking to widen Japan's doors.
The island nation began accepting Canadian beef in 2005, but currently only allows import of cattle under 21 months.

As the third-largest beef-importing market in the world, Japan, along with its strong currency and consumer purchasing power, is a lucrative market, according to Steve Molitor, head of Cargill Meat Solutions.
He spoke about production trends and global market opportunities for high-quality beef products at feedlot conference held in Lethbridge Wednesday hosted by Certified Angus Beef and Elanco Animal Health.
"Japan is a great opportunity from a currency standpoint. It's still a very big buying power for Japan to buy U.S. beef. Their currencies have appreciated pretty high, and so they're still buying beef today like they bought beef six, seven, eight years ago in prices," he said. "So from a price standpoint it's a very good, strong market." More

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