U.S. Beef And Pork Exports Are Increasing as Countries Begin Rebound From PandemicThu, 21 Jan 2021 15:30:00 CST
U.S. beef and pork exports are booming according to the latest numbers from the U.S. Meat Export Federation.
Dan Halstrom, president and CEO of USMEF, was recently interviewed by Radio Oklahoma Agriculture Network Associate Farm Director and Editor KC Sheperd.
November was a really good month as we were up 6 percent compared to a year ago, Halstrom said.
This is encouraging to see a rebound and the one that stands out is Mexico, he said.
Mexico was several months behind the U.S. on the Covid lockdown so itís encouraging to see the first signs of a rebound, Halstrom said.
The good news continued with pork exports which are about the same as a year ago and set a new annual record, Halstrom said, as weíre going to see growth of 14 to 15 percent.
A lot of the pork increase is due to China in the first half of 2020 but Halstrom said Mexico has also contributed to the higher numbers.
The pork rebound is really strong in Mexico and Japan, Halstrom said.
The strong beef numbers could signal a major rebound in the eastern countries of China, Japan and Vietnam, he said.
Latin America is way behind the curve so itís going to be awhile for meat exports to rebound, he said.
When we get the December stats it will probably show weíll be down 3 or 4 percent on beef for 2020, he said.
However, for 2021, the USMEF is expecting a 10 percent growth, which would be a new record.
But there is a rocky road ahead with many ups and downs, Halstrom said.
Prime example is Japan which has had several spikes.
On beef the longer we go into 2021 the better the numbers will get, he said.
On pork, with a total growth of 2 or 3 percent frontloaded in the early part of the year, he said.
We see broad-based growth in a lot of different countries, Halstrom said.
China could very well be one of the bright beef stories again in 2021, he added.
Lamb is a growing protein source in the Japan, Taiwan and the NAFTA countries, Halstrom said.
With a new administration, Halstrom is hesitant to get too concerned.
Itís too early to tell but many of the free trade negotiations are continuing with career employees moving forward, he said.
What really drives the global demand is the supply demand structure, he said.
The pandemic has actually increased beef demand in the e-commerce arena, Halstrom said, especially in places like Korea and Taiwan.
This was a trend before the pandemic, but it grew tenfold after the pandemic hit.
A lot of the growth in e-commerce is here to stay, he said.
The real home run here is the additional demand which will be good for all of us, Halstrom added.
You can click on the listen bar below to hear more of KCís interview with Dan Halstrom.
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