News

Investment to target growing demand for US beef

The Federation of State Beef Councils is investing nearly 1-million-dollars to increase demand both internationally and domestically for beef.

Chairman Steve Hanson, a beef producer from Nebraska, says low cattle prices and increasing supplies of beef puts additional pressure on prices.

But, he says, this investment is an opportunity to reposition US beef on the global market.  “It’s a time for us to displace Australia – especially in the Japanese and Korean markets,” he says.  “And this gives us that opportunity to completely displace them and possibly when their beef becomes available again and the quality of the American product we can hold those markets.”

He tells Brownfield the investments are intended to add a spark to beef demand.  “The domestic one will be fully in place before the holiday season,” he says.  “The international ones should be in place right after Thanksgiving time frame.  We think we’re hitting an excellent time and that we can achieve the goals we’ve set as far as pounds of beef moved.”

• $260,000 to the U.S. Meat Export Federation for a promotion with national retail chains in Japan. The promotion is expected to move an additional 6.9 million pounds of beef.
• $140,000 to the U.S. Meat Export Federation for regional retail promotion campaigns in Japan. The promotion could move another 2.75 million pounds of beef.
• $200,000 to the U.S. Meat Export Federation for a Korean beef promotion with national retail and second tier discount chains. The effort is expected to incrementally move about 5.8 million pounds of beef
• $40,000 to the U.S. Meat Export Federation for an Asian island promotion targeting a quickly-growing tourist destination which has growth opportunities for beef.
• $300,000 to NCBA, for an Ibotta promotion that targets millennials in larger cities and encourages greater beef purchases in retail stores. Ibotta is a smartphone app that shares beef information with consumers, then allows them to obtain cash rebates based on their retail beef purchases.

AUDIO: Steve Hanson, Chairman, Federation of State Beef Councils