Beef Buzz News
Slow Pace of U.S. Beef Exports a Concern, Says Market Analyst Katelyn McCullockWed, 18 Nov 2020 08:33:47 CST
While pork exports will likely set record levels this year, the slow pace of beef exports is a concern, says Katelyn McCullock, director and senior agricultural economist for the Livestock Marketing Information Center, based in Denver, Colo.
All the countries that import beef are faced with their own pandemic ramifications and where beef ranks culturally and economically in comparison with other animal proteins in that country, she said.
The September data show we are down about six percent from year ago, she said.
Perhaps the most disappointing destinations are Mexico and Vietnam.
Mexico, the third largest destination by volume in 2019 and in September they lost 37 percent from last year and Vietnam was 47 percent down, she said.
McCullock noted a lot of people like to talk about the importance of China, yet China is not a big beef market as the volume lost in Mexico is roughly the same size as the total Chinese imports.
By the end of 2020 we are expecting a decline in total beef exports year over year but how much is hard to say, McCullock said.
Looking ahead to 2021 McCullock is optimistic despite the fact there will probably be a hangover from 2020 but she hopes it will get better in the second half of 2021.
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