HomeNewsLatest News U.S. beef exports increase, less product available domestically
U.S. beef exports increase, less product available domestically
Posted by Truth About Trade & Technology
Wednesday, 02 July 2008
Brownfield Ag Network
Original Publish Date: June 30, 2008
An increase in U.S. beef exports might put fewer steaks and less hamburger in local grocery stores the next few years. Kevin Good, market analyst for Cattle-Fax, explains:
"Consumption levels have been pretty flat domestically for 15 or 16 years, between 64 and 67 pounds. It is going to trend lower this year and probably over the next couple years, mainly due to the fact that we're going to produce less product. We're going to put less product on the market. Production, domestically, is going to be close to even, but we're going to export more product so there will be less of it for the consuming public here domestically."
Good says U.S. beef exports have increased 35 percent since last year, mainly to Mexico, Canada, Hong Kong and Russia. But he says there’s still room for more export expansion.
"We're still well below where we were pre-BSE or 2003 and before, so we've got a lot of ground we can still make up exporting," Good says. "Korea and Japan are the two markets we'd like to get back in with full access."
Good says high input costs could also drive down domestic beef supply.
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