April 18, 2008

Cattlemen excited to resume beef trade with South Korea: STOKES

The Office of U.S. Trade Representative and the government of South Korea announced this morning an agreement to resume U.S. beef exports to Korea. The agreement is consistent with international guidelines, and will include beef from cattle of all ages. National Cattlemen’s Beef Association CEO Terry Stokes says this is a tremendous breakthrough. With South Korea importing over $800 million in U.S. beef in 2003, Stokes feels Korea can quickly grow into a $1 billion market annually.

Cut #1 :17  Outcue: "... billion dollars a year."

Stokes said South Korea is such a large market, resumption of trade with Korea could offer an immediate boost for the cattle market.  

Cut #2 :21  Outcue: "... value to our cattle."

If beef trade resumes as planned, NCBA will then lend its support to passage of the U.S.-Korea Free Trade Agreement - which cattlemen could not support without resolution of the beef impasse. Stokes says the Korea FTA is important, because it will provide gradual relief from extremely high tariffs. 

Cut #3 :27  Outcue: "... for our cattlemen."