USMEF Economist Erin Borror presented an update on the global beef market – pointing to the major role Asia is playing – at the Mexican Cattle Feeders’ Association (AMEG) International Meat Congress. USMEF’s participation in the event, which included a booth in the main conference hall, received funding support from the Beef Checkoff Program.
Held at the World Trade Center in Mexico City, the convention attracted 800 attendees – mostly livestock producers, members of Mexican beef associations and meat processors from the region – and included an impressive array of 17 technical presentations on issues relevant to the country’s meat sector.
Borror’s detailed look at the global beef situation included a focus on production and trade. She explained that the expansion in U.S. beef production comes just as Australia’s beef production is returning to more normal levels after three years of drought-induced herd liquidation. She also touched on import demand, especially in China, Japan and Korea; the impact of the strong U.S. dollar; and market access restrictions that continue to limit U.S. export growth.
“Chinese demand has helped keep a floor under global prices at a time when production is increasing in most of the world,” Borror told attendees. “But everyone is watching for signs of cooling Chinese demand, as that will have a significant impact on prices and trade.”
Along with Borror’s presentation, USMEF sponsored “Qualitative Prediction of Carcass Using New Tech Systems” by USMEF consultant Martin O’Connor and “Comparing Buffalo Meat to Cattle with Cebu and European Influence” by Nelson Huerta, Ph.D., also a USMEF consultant.
“The ultimate objective of our involvement was to strengthen relationships in order to maintain the excellent level of market access for U.S. meat in Mexico,” said Chad Russell, USMEF regional director for Mexico, Central America and the Dominican Republic.