U.S. livestock producers urged to look overseas
From Omaha.com
U.S. livestock producers will have to reach out to foreign consumers to restore profits, according to a report by two Federal Reserve economists.
Demand for meat is down at home because of the recession, and it likely will be slow to return even after the economy turns around, the report said.
But in developing countries, including China and India, consumers’ incomes are growing, along with their demand for protein. And that creates market potential for U.S. hog, cattle and dairy producers.
