Agricultural News
WIth Australian Beef Exports Down- US Beef Making Big Gains in Asia in 2010
Thu, 22 Jul 2010 5:52:38 CDT
Exports of U.S. beef for 2010 are forecast at 2.09 billion pounds, a nearly 12- percent increase from 2009. This figure also places U.S. beef export levels at 83 percent of pre-BSE levels in 2003. U.S. beef exports through May were 26 percent higher, year-over-year, with exports to Asian markets—namely Japan (+24 percent), South Korea (+74 percent), Taiwan (+54 percent), and Hong Kong (+126 percent) —contributing toward much of the forecast and year-over-year growth.
The second and third quarters of this year are expected to show nearly 15-and 11- percent growth above the same quarters last year, at 540 and 550 million pounds exported, respectively. The strengthening dollar is not expected to have a significant effect in terms of dampened demand for exported U.S. product, given the growth in Asian markets and implications of supply constraints in markets of alternative beef suppliers. Constraints in Argentinian supply, for example, have caused a shift in Russian demand for beef to U.S. supplies. Beef production in 2010 from Australia, a primary export competitor with the United States, particularly to Asian markets, will be the lowest since 2003.
Of the top ten beef export markets in the world for US Beef, only Mexico is lagging the pace seen in 2009 here in 2010. However, Mexico easily remains the top export destination for US Beef through the first five months of 2010.
You can see the chart of the Top Ten Countries- and read more about beef exports and imports- as well as an interesting article on whether there really is any difference between the various types of beef coming out of conventionally produced beef versus natural versus grass finished versus organic. These stories are a part of the July issue of Livestock, Dairy and Poultry Outlook released on Wednesday of this week by USDA.
Click here to jump to the USDA publication for this month.
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