WASHINGTON – The International Trade Commission (ITC) released a report on Tuesday estimating that the cost of trade restrictions because of bovine spongiform encephalopathy (BSE) has cost the beef industry $11 billion from 2004 to 2007.
The National Cattlemen’s Beef Association (NCBA) contributed data, briefings and testimony for the ITC for the report.
“Opening markets and advocating for science-based standards of trade remain top priorities for NCBA,” said NCBA President Andy Groseta. “This report confirms what cattle producers have known for years. It serves a critical purpose in helping everyone understand the size and scope of the economic losses our industry suffers as a result of unfair trade restrictions.”
Farm-gate sales of cattle and calves during the period between 2004 and 2007 were reportedly $195.5 billion, so the $11 billion in losses estimated by the ITC translates to 5.6 percent of cattle producers’ income. The report also estimated that tariffs and tariff-rate quota (TRQ) restrictions cost the industry another $6.3 billion from 2004 to 2007.
The full report is available online at http://hotdocs.usitc.gov/docs/pubs/332/pub4033.pdf.
Source: National Cattlemen’s Beef Association