Despite Record Exports to China, Beef Exports Lower

DENVER, CO – U.S. beef muscle cut exports were higher in October, though lower variety meat volumes pushed total beef exports slightly below last year. That is according to data recently released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Total beef exports in October were slightly lower than a year ago (down 0.4 percent), valued at $646 million (down 0.5 percent), but exports to China set another new record. Volumes were also above year-ago levels in Japan, Taiwan, Central America, and Africa. While still below last year, beef exports to Mexico were the largest since March. “Red meat demand is strengthening in many critical markets”, USMEF President and CEO Dan Halstrom explain. “When the gains made at retail over the past several months are combined with a stronger foodservice recovery, the prospects for export growth are very promising.”
(SOURCE: All Ag News)