Kelsey Manning’s Review!
While this covers the material we reviewed in class sessions, you would want to review the key
sheets from assignments, any reading
assignments, and quizzes in addition to the
The headings highlighted in
red are expected to be covered on your first exam,
and those left in black will be covered on the second exam.
made in class supersede this statement, so be sure to stay informed with changes
Use characteristics of the US industry to define its significance.
For example, How does the industry compare with other meat
industries in volume in sales (need not memorize any specific values here, just comparative terminology.
How significant is the beef
industry to the US economy?
Sales of beef stay about the same – chicken has passed beef in sales
Beef is 1/3 of all meet sold, and ½ of all red meat
Makes up 17% of GNP
Consumers want: consistency, nutritional value, and quality
What factors favor (and do not favor) beef production enterprises in the US (i.e. land use, reproductive rate, labor intensity, facilities,
etc.) compared to other livestock enterprises?
Do not favor
Trained management required
Over reactive industry to economic pressure,
Low prolificacy rate
Utilize non-arable land, low quality roughage
Less labor demands than some
Low facility investment needed
Environmentally fiendly, nutrient recyclers
What are the comparative trends in consumption of beef compared to other meat sources?
Is there room for more demand (why or why
Do US consumers rely on beef in their diets (why or why not)?
Beef makes up 1/3 of all meat sales, and ½ of all red meat
Consumers want beef no matter the prices or the advantages to other meat – just need to find ways to improve consistency,
nutritional value, and quality
There is more demand for beef – they just need to work on consistency
How significant is the import and export of beef in the US?
What are the trends in export volume and what might this imply about the
viability and future of the beef industry?
Who are our major export markets?
Who are major suppliers of imported beef?
Why do we
What effect have recent events had on our international and domestic markets?
Beef has highest value of US meat exports
92% of exports – Japan, South Korea, Mexico, Canada
Import beef from – Australia, Canada, New Zealand, Argentina – we import beef for the cheaper meat - hamburgers
BSE scare in 2003 put a HUGE dent in exports
Is beef production profitable?
How would you describe the profit situation in the past 5 years?
Is Production profitable – not as great because of corn prices being so high – cuts into our profit margin