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livestock

Livestock Round Up: Korea, Good News and Bad News for Beef

In January, Korea’s tariff on U.S. beef will drop to zero as laid out in a long schedule as part of the 2012 Korea-U.S. free trade agreement. Prior to the agreement it was 40 percent, in 2025 it was at 2.6 percent. Korea has been a growing market especially for premium cuts of beef, with 2024 exports of 248,562 MT, worth $2.22 billion, making it the most lucrative destination for U.S. beef.   Korea has also accepted a trade deal with the U.S. stemming from new tariffs imposed this year on Korean goods, and the tariff rate for imports into the U.S. at 15 percent. With that trade spat settled, and despite high U.S. beef prices and lowered volume, U.S. beef exports are up 8 percent this year January through August. That is the...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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