§ Imports of beef to South Korea are predicted to increase to 300,000 metric tons in 2008 compared to the expected total of 280,000 by the end of 2007.  Pork imports are expected to decrease from 120,000 metric tons in 2007 to 97,000 in 2008.

§ Over the course of the last six weeks, weekly meat production has increased an average of 84.8 million pounds per week according to the CME’s Daily Livestock Report. In that same time, beef production alone increased an average of 19.1 million pounds per week or 3.8%.

§ According to Standard and Poor’s, U.S. farm income is rising at a rate of 10% per year.

§ Last week it was reported that Old Chicago had partnered with the Beef Checkoff in order to feature new beef menu items.  Applebee’s is following suit.  In 1,900 Applebee’s restaurants there will be new cuts of beef to enjoy including a sirloin, New York strip and a ribeye.

§ How much of the corn harvested in the U.S. is being used for ethanol production?  Nearly 20% and within five years, that number should double.

§ G-OIL is biodegradable motor oil that is made from beef tallow.  Green Earth Technologies, Inc. makes the product which yields one barrel of product from one barrel of animal fat.

§ Our current prices are somewhat the result of simple supply and demand.  Supplies of meat are record large and demand is struggling with 40% of Americans believing the economy is in a recession, according to a recent CNN poll.

§ Looking ahead to cattle prices in 2008, Purdue University Agricultural Economist Chris Hurt told Meatingplace.com that he anticipates we’ll see $93 as the average price.

§ According to Cattle-Fax the demand for meat will double over the next 20 years because there will be an additional 1 billion people on earth.  Over 115 billion pounds of beef were consumer globally last year.  The U.S. consumed just 20% of those pounds.

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