Japan, Korea ban US beef imports on mad cow fears

[bpilgrim]

http://www.thestar.com.my/news/story.asp?file=/2003/12/24/latest/15317JapanKor&sec=latest

TOKYO (AP) _ Japan indefinitely banned imports of U.S. beef on Wednesday after a cow in Washington state tested positive for mad cow disease, the Agriculture Ministry said, depriving American beef exporters of their largest overseas market.

A ministry official, speaking on condition of anonymity, said the ban applied to beef and beef products and took effect immediately. South Korea followed suit, halting customs inspection of U.S. beef and blocking the entry of the meat into the domestic market.

Japan is the largest overseas market on value terms for U.S. beef. Exports totaled US$842 million in 2002, accounting for 32 percent of the market, according to the U.S. Meat Export Federation.

Japanese authorities have been especially leery about mad cow since the nation's herds suffered the first recorded outbreak of the disease in Asia in September 2001, causing meat consumption to plunge. Consumption, however, has since rebounded.

more...
http://www.thestar.com.my/news/story.asp?file=/2003/12/24/latest/15317JapanKor&sec=latest


peace

[xray s]

1. I imagine McD's will be cutting the price of Quarter Pounders in the US

Bush will point to that as another economic plus I suppose.

[mikehiggins]

2. Here we go folks

The first blow to the Bush economy has just been struck.

[ScotTissue]

3. True, but is is GOP's "fault"

We better be careful with our glee.

[Devlzown]

4. Yep, this is going to be something else

they'll use to cover their asses when people wonder why the economy is in the shitter.

[Tyler Durden]

5. sounds like an excellent time to swear off red meat.

BSE doesn't do pork or chickens, right?

I really don't know to tell the truth.

[frylock]

6. i'm sure bush is praying real hard for his trifecta 2003

[revcarol]

7. It begins.

Just decimated our only good export: AGRICULTURE.There's plenty of wheat, rice and soybeans out there in other places, so they'll just buy them where they buy their beef.

We don't manufacture much any more and our computer jobs are going to India.

Can you say," MASSIVE BALANCE OF PAYMENTS PROBLEM?"

One ray of hope: I saw socks manufactured in the U. S., at Bealls.

[raifield]

8. Relax...

Every single bowling bowl I've seen is "Made in the USA".

[bpilgrim]

9. kick

peace

[Flightful]

10. I needed an excuse for this

[cliss]

11. let's look at the implications.

11 countries have now banned "made in the USA" beef. What is the fallout? I don't know how big this industry is, but I'm guessing it's pretty big.

So exports dry up - no one wants to even think about munching on Teriyaki Beef Jerky, and New York Steaks are now a no-no in Japanese restaurants. Beef producers are going to get stuck with A TON of beef. I'm also assuming there isn't that much freezer space to cram in all the meat, because that's got to cost money for storage. So a lot is going to get wasted, buried in the ground or whatever.

Grocery stores are going to see a lot of meat sit there in the cooler. It'll go past the expiration date, and it's going to get thrown out. Stores will make less money (of course, if shoppers are smart, they'll gravitate to the meatless frozen food section).

I suspect some ranchers and meat packers will be going out of business. Especially the marginal ones who are already hurting. Don't look to BushCo to help them out. They won't.

So I would say a lot of people in the midwest are sweating right now.