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Agricultural News

On Today's Ag Perspectives Podcast- Ron Hays talks with Erin Borror of the USMEF about the latest Beef Export Numbers

Sat, 07 May 2022 16:50:47 CDT

In this Ag Perspectives Podcast- Senior Farm and Ranch Broadcaster, Ron Hays does a deep dive with Erin Borror, the Vice President for Economic Analysis at the U.S. Meat Export Federation about the latest March Beef Export numbers just out from the USDA, compiled by the USMEF.

"Beef remained really impressive, so it was a new value record," Borror said. "Over a billion dollars shipped out again in March and that was on a value basis, up by a third, year-on-year."

For some context, Borror said we have seen those beef prices, including for the export items, accelerate from about April, to May a year ago. So, Borror added, we are going to get into more challenging year-on-year comparisons, especially from the middle of this year.

"Every month continues to be impressive, and it's exporting a larger share of production and pretty widespread growth," Borror said. "So, your big Asian markets continue to lead, and you had Korea up 9% in the first quarter on volume."

Korea is now our number one destination for U.S. Beef in this latest month.

"If we just look at muscle cuts, Korea had been number one for a bit last year, and Japan still takes so many tongues and skirts and hangers, which sometimes get categorized as variety meats," Borror said. "Japan still had been holding number one when you add everything together. But yes, for quarter one, Korea came ahead for everything, beef variety meats are to be our number one destination, that market is just incredible."

Borror said she calls this her "model market", because we have watched it go from candlelight vigils in the street protesting U.S. beef to world-class beef, and that is where we are today.

Click on the Listen Bar below to hear the full conversation with Ron and Erin on the latest Beef Export numbers.



Ron Hays talks Beef Exports with Erin Borror of the USMEF
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