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Japan Earthquake Effects Local Economy

Posted: Saturday, March 19th, 2011 at 6:28 am
Author: KCII News - Bill Gatchel

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The earthquake and tsunami that hit Japan has the potential to also impact the Iowa economy.  Devin Mullet with the Kalona Sales Barn tells KCII that Japan imports large amounts of Iowa beef and pork, and that the sooner the situation stabilizes the better it will be for not only the people of Japan, but also for the Iowa economy.  At the moment, beef cash prices remain in a very good position, with pork less so.

Speculation has driven futures prices down, and Mullet has adopted a “wait and see,” approach on how the situation in Japan will impact local markets in the future.