US May Expand Cattle Imports
Smaller cattle herds and strong consumer demand have caused beef prices to rise by as much as 15% during the past year.
This steady rise occurred despite a slight drop in inflation and a drop in consumer confidence during the same period, according to the U.S.
Higher prices have been good for cattle producers and not so good for consumers.
President Donald Trump said earlier this month a plan was being formulated to drive down beef prices.
Part of the proposal involves expanding the tariff rate quota on Argentinian beef from 20,000 metric tons to 80,000 metric tons, said James Mitchell, extension economist for the University of Arkansas System Division of Agriculture.
This would quadruple the amount of Argentinian beef entering the U.S.
Author's summary: US considers expanding cattle imports to lower beef prices.
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