US World Trade Market

In early 2003, the United States was the world’s third largest exporter of beef. The US gathered nearly 18% of the world beef and veal market. However after the case of BSE was found in 2003, the US only claimed 3% of the world beef and veal market, dropping 15%. Today the United States still has not regained all of its previous market, claiming only 14% of the world trade of beef and veal. This is because some countries to this day still ban beef imports from the United States. Due to the 2003 case of BSE, shipments of beef dropped more than 80%, severely damaging trade. In 2004, Canada and Mexico resumed imports with the US. Finally, in 2008, South Korea resumed imports, although most were still very hesitant to purchase products. Now, South Korea places restrictions on which cattle they purchase from the United States, only buying cows less than 30 months of age. We can only imagine how long South Korea will halt sales of US beef this time around.

After the case of Mad Cow disease in 2003, the estimated US beef industry losses due to the loss of beef or beef by-product exports in 2004 totaled $3.2-$4.7 billion dollars.

Photo Credit: http://sites.duke.edu/soc142-beef/political-determinants/
Link: http://www.ers.usda.gov/news/BSECoverage.htm


"U.S. Beef and Cattle Industry: Background Statistics and Information." Background Statistics: U.S. Beef and Cattle Industry. Web. 09 May 2012. <http://www.ers.usda.gov/news/BSECoverage.htm>
"Mad Cow Disease Found in California." YouTube. YouTube, 24 Apr. 2012. Web. 09 May 2012. <http://www.youtube.com/watch?v=VgB9sg5dy8w>.