November Meat Export Numbers Higher
U.S. beef and pork exports continue to increase.
Compiled by staff
Published: Jan 27, 2009
The U.S. Meat Export Federation says U.S. red meat exports continued their strong pace through November, with pork up 20% and beef up 9%, compared to November 2007. So far, for the first 11 months of 2008, pork and pork variety meat exports were 61% larger than 2007, nearing the 2 million metric ton mark. 2008 pork exports through 11 months were valued at $4.5 billion, an increase of 59%.
The story for U.S. beef exports also remains positive. January through November beef exports were up 37% with variety meat exports up 18%. Total beef exports were up 29% and valued at $3.37, an increase of 40%. 2008 beef exports are on pace to reach 94% of the 2003 export value.
According to Erin Daley, USMEF economist, global protein supplies remain tight, with the exception of a few situations in key countries where stocks of imported red meat are weighing on the market, specifically in Korea and China. But, the bottom line, according to Daley, is that, regardless of the global economic situation, people have to eat. U.S. beef and pork prices are lower than they were during the summer, which helps offset the increased strength of the U.S. dollar.
Permalink: Click here
|