By Ryan Hanrahan
RFD-TV’s Tony St. James reported that “beef imports under the Trump administration’s temporary tariff-rate quota fell well short of the first monthly allocation, limiting the amount of additional supply reaching the U.S. market, according to University of Arkansas economist James Mitchell.”
“The policy allows 300,000 metric tons of beef to enter over 90 days in three monthly tranches of 100,000 metric tons. Through September 28, only 37,486 metric tons had entered under the first tranche, leaving 62,514 metric tons unused,” St. James reported. “Mitchell estimates just 8,054 to 21,936 metric tons may represent beef that would not otherwise have entered the United States. The range reflects different comparisons using USDA forecasts and historical imports from eligible countries.”
Meatingplace’s Frank Fuhrig reported that “the tariff holiday applies only to the ‘other’ countries tariff-rate quota, in which Brazil and Paraguay are the only significant beef exporters. The White House has labelled that the ‘affordable’ TRQ.”
“Multiple Brazilian media have reported that the country’s trade ministry announced September beef sales to the United States at least 44,400 mt,” Fuhrig reported. “Even combined with Paraguayan exports, the total would only about half fill the 100,000 mt quota for September.”
The University of Arkansas’ Mitchell wrote that “the main point is that 100,000 metric tons of new beef imports did not materialize in September, and there was no noticeable change in retail beef prices. Even imported beef still has to undergo further processing and move through the marketing system before it is sold to consumers.“
Source : illinois.edu