Beef in the World, What’s Going On?

Looking from PA out into the world of exports most of us think, that doesn’t concern me or, I’m not big enough to be part of that. All answers are wrong. Exports are something for all farmers and ranchers alike, big or small, to watch and consider what the current marketplace is looking like for his or her beef product. It’s also a great tool to help understand pricing and possibly what the market place is doing at that time.

All major beef companies are involved in exporting beef products and some medium to smaller size operations as well. Currently USA ranks 4th in the world for beef exports with our leading market being Japan. As of July 2017, exports for the USA are increasing hand over fist. July beef exports totaled 104,488 metric tons (mt), up five percent year-overyear, while export value reached $623.7 million – up 18 percent from a year ago and the highest since December 2014.

For January through July, exports increased 11 percent in volume and 15 percent in value ($3.97 billion) compared to the first seven months of last year. Exports accounted for 13.2 percent of total U.S. beef production in July and 10.7 percent for muscle cuts only. These were the highest ratios of 2017, but down from 14.2 percent and 11 percent, respectively, last July. For January through July, beef exports accounted for 12.8 percent of total production and 10 percent for muscle cuts – roughly steady with last year(USMEF’s statistics web page).

So, looking at all that, currently exports are on the rise for the US. The US continues to fight for its spot and looking to grow more into the export market. New opportunities, like the China market and NAFTA negotiations, are in the works but not a lot of definitive details are being released as of right now.

— by Curtis McFadden us-beef-exports-stay-redhot-july