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I am not sure why there is a trade in live exports, but the reasons behind live imports are a little easier to understand. Importing livestock and having them live/graze here for a week or two allows the meat to be sold as British reared.
But, as far as transport is concerned, this is probably much the same as retail. In that you pay more per kilo for off the bone than on.
Maybe there is a glut of food waste that if not fed to fatten livestock would involve a cost in itself?
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