Argentina has extended its beef export restrictions through October. Their government is looking to bolster their domestic supply to help contain rising food costs. South Dakota Cattlemen’s Association President Eric Jennings says that move also provides a great opportunity to sell more U.S beef to China gaining a bigger share of that important market.
Argentina is one of the world’s largest beef exporters and has been a key supplier to China. Jennings says when it comes to them competing for that market however, the U.S has a clear advantage.
There was concern earlier when Argentina was allowed to send its beef to the U.S. due to their past problems with Foot and Mouth Disease. Jennings says some of those concerns have eased but now with them restricting exports, that could be another benefit for the U.S.
A meat industry representative from Argentina said their beef sector had lost around $100 million in exports last month alone due to the restrictions. The South American Country issued their first export restrictions in June.
