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Global spending power creates new opportunities to grow U.S. beef demand

Opportunities to grow beef demand is a bright spot.

The head of the US Meat Export Federation says the increase in spending power around the globe bodes well for the beef industry.

Dan Halstrom tells Brownfield Cairo, Egypt is a perfect example, “You have a demand for beef livers for the lower income.” 

And, he says there’s additional opportunity as the tourism economy is booming.  “The very high-income tourism wants more high-end cuts, prime, upper two-thirds,” he says.  “It’s a fascinating dynamic, and I think US beef in particular is well positioned to capitalize on that.”

Through November, U.S. beef exports are down 19 percent overall, but that is largely due to the lack of beef going into China.  Halstrom says if China is removed from the equation, beef exports are actually only down about 3 percent year-over-year.

AUDIO: Dan Halstrom, US Meat Export Federation