Further stricture of the beef supply was the drought in the U.S. Plains region. Many hay farmers found it difficult and expensive during the drought to irrigate their crops and, consequently, many beef ranchers had to sell off their cattle or were unable to restock their herds because of the raising cost of hay (Gebhart, 2003). "And beef production won't increase until 2006 since, with the current high prices, ranchers will be sending as many heads as possible to the slaughterhouses" (msn.money.com).
If things weren't bad enough for the U.S. beef industry, in 2003 "Beijing suspended the imports, joining Singapore, Malaysia, Taiwan, Japan and South Korea" of U.S. beef after a cow in Washington tested positive for bovine spongiform encephalopathy BSE (CNN.com). According to the U.S. Meat Export Federation, Japan is the biggest export market for U.S. beef, importing $843 million worth last year (CNN.com).
A person would think that this would be the end for the U.S.... [continues]
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(2006, 01). Economics - Supply and Demand of Beef in the United States. StudyMode.com. Retrieved 01, 2006, from http://www.studymode.com/essays/Economics-Supply-Demand-Beef-United-77188.html
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