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Japanese Import Demand for U.S. Beef and Pork: Effects on U.S. Red Meat Exports and Livestock Prices

Published online by Cambridge University Press:  28 April 2015

Dragan Miljkovic
Affiliation:
Department of Agriculture, Southwest Missouri State University
John M. Marsh
Affiliation:
Department of Agricultural Economics and Economics, Montana State University, Bozeman, MT
Gary W. Brester
Affiliation:
Department of Agricultural Economics and Economics, Montana State University, Bozeman, MT
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Abstract

Japanese import demand for U.S. beef and pork products and the effects on domestic livestock prices are econometrically estimated. Japan is the most important export market for U.S. beef and pork products. Results indicate foreign income, exchange rates, and protectionist measures are statistically significant. The comparative statics quantify the effects of recent economic volatility. For example, the 1995-1998 depreciation in the Japanese yen (39%) reduced U.S. slaughter steer and hog prices by $1.29 per cwt and $0.99 per cwt, respectively, while the 1994-1998 reduction in tariffs (14%) increased slaughter steer and hog prices by $0.49 per cwt and $0.33 per cwt, respectively. Livestock producers will continue to have a vested interest in Asian trade liberalization policies.

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Copyright
Copyright © Southern Agricultural Economics Association 2002

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