Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   
   
   
   

Agricultural News


Dynamics in the Global Meat Market Adding to the Mounting Pressure on US Beef Exports Says Peel

Mon, 08 Jul 2019 14:20:40 CDT

Dynamics in the Global Meat Market Adding to the Mounting Pressure on US Beef Exports Says Peel Mondays, Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry. This analysis is a part of the weekly series known as the "Cow Calf Corner" published electronically by Dr. Peel and Dr. Glenn Selk. Today, Dr. Peel takes a look at the global dynamics affecting U.S. meat trade.



"Plenty of dynamics are impacting U.S. and global meat markets, some of which are beginning to be revealed in U.S. meat trade data. In the latest data, May U.S. beef exports were fractionally lower, down 0.1 percent year over year. Total U.S. beef exports are down 3.6 percent so far this year with data from January May.



"Beef exports to Japan, the leading beef export market, were down by 4.9 percent year over year in May and are down 4.5 percent for the first five months of 2019. Beef exports to Japan are beginning to show the impact of the CPTPP, in which the U.S. does not participate, leaving the U.S. at a bigger tariff disadvantage. Beef exports continue to grow to number two market South Korea, up 10.1 year over year in May and up 11.7 percent so far this year. Beef export growth to South Korea is less robust so far this year compared to the past five years which have averaged over 21 percent growth annually. Mexico remains the third largest beef export market this year with growth of 2.9 percent year over year in May and 6.1 percent for the first five months of the year. Canada is the fourth largest U.S. beef export market but continues to decline. After dropping 2.9 percent in 2018, beef exports to Canada are down 11.5 percent year over year in May and are down 14.3 percent so far in 2019. Likewise, beef exports to Hong Kong continue to decrease, down 25.8 percent in May compared to last year and down 41.0 percent year over year for the January to May period. This follows an annual decrease of 8.5 percent in U.S. beef exports to Hong Kong in 2018.



"U.S. beef imports are up 5.8 percent year over year so far in 2019, augmented by a 6.4 percent monthly increase in May. Canada remains the largest source of beef imports, up 9.9 percent in May and up 12.6 percent year over year for the January May period. Australia, which dropped to number two among beef imports to the U.S. in 2017, is bouncing back with additional herd liquidation in the country fueling increased beef production and exports. Beef imports from Australia were up 30.4 percent in May compared to last year and are up 14.0 percent year over year for the first five months of the year. This follows year over year decreases in U.S. imports of Australian beef since 2015. Beef imports from number three Mexico were up 9.7 percent year over year in May and are up 20.4 percent thus far in 2019. Beef imports from number four New Zealand are down 20.4 percent in May and 22.0 percent so far this year.



"Pork exports in May were down just 0.8 percent year over year despite a 32.5 percent year over year decrease in exports to Mexico, the largest U.S. pork export market. May pork exports were boosted by a sharp jump in pork exports to China, up 94.6 percent for the month and up 7.2 percent for the year to date. Despite the continuing Chinese tariffs on U.S. pork, the massive loss in pork production in China due to African Swine Fever appears to be fueling the anticipated boost in Chinese demand for pork and other proteins. Total U.S. pork exports are down 3.8 percent year over year for the year to date.



"Broiler exports were up 13.4 percent year over year in May led by an 18.1 percent monthly increase broiler exports to Mexico, which accounts for 21.1 percent of total broiler exports. Year to date broiler exports to Mexico are up 9.3 percent year over year. Other major broiler export markets, including Angola, Canada and Hong Kong, each of which accounts for less than five percent of broiler exports, were all down in May and so far in 2019. Year to date total broiler exports through May are up 1.6 percent year over year."




   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • AgResource President Dan Basse Talks the Financial Factors in the Ag Markets   Tue, 17 Sep 2019 17:02:45 CDT
  • OSU's Glenn Selk Talks About How to Know if Your Heifers are Ready for the Fall Breeding Season  Tue, 17 Sep 2019 16:46:43 CDT
  • Steer and Heifer Calves Sold 3.00-8.00 Higher, Few Trades as much as 10.00 Higher on Tuesday at OKC West  Tue, 17 Sep 2019 16:38:20 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Tuesday, September 17, 2019  Tue, 17 Sep 2019 14:47:54 CDT
  • Public Citizen Contends USDA's Swine Inspection Modernization Endangers Hog Slaughter Workers, Consumers   Tue, 17 Sep 2019 14:26:03 CDT
  • State Farm Bureaus Join America Farm Bureau in Marking National Farm Safety and Health Week  Tue, 17 Sep 2019 14:21:00 CDT
  • Tuesday Market Wrap-Up with Justin Lewis  Tue, 17 Sep 2019 14:02:33 CDT
  • Tuesday Afternoon Market Wrap-Up with Carson Horn   Tue, 17 Sep 2019 14:00:20 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.