Cattlemen asked to rebuild herds in light of Korea pact
February 22, 2012 | 02:33 PM
The National Cattlemen’s Beef Association told its members Tuesday that the implementation of the Korea-U.S. free trade agreement on March 15 means they should think long-term and increase the size of their herds. Under the agreement, Korean tariffs on U.S. beef will be phased out over 15 years.
“This may very well be the most monumental bilateral trade pact our industry has ever witnessed,” NCBA President J.D. Alexander said in a news release.
“With increasing demand and tightening supplies, movement of the KORUS FTA should encourage cattlemen and women to think beyond the current prices for live cattle and think long-term,” Alexander said.
“Think about where demand is heading and look beyond the borders of the United States. Now is the time to retain heifers and rebuild what has now become the smallest U.S. cowherd more than five decades. In order to meet increasing demand, we have to have the beef.”