10/22/08 Beef exports are positive

United States beef exports are up and U.S. beef imports are down which is a good thing, but there is more to the story. I'm Jeff Keane; I'll be back in one minute to explain. According to a report by Missouri Cattlemen's Association U.S. beef exports to all destinations for January through June 2008 totaled 831 million pounds, which is up 31 percent over last year. Exports to Japan are finally increasing, adding 36 million pounds to the 2007 number for this time period. Canada and Mexico were higher by 38 and 13 per cent respectively. While exports were increasing, U.S. beef imports were decreasing. Imports actually showed a 22 per cent decline. The result of these lower imports and higher exports is that per capita beef supplies in the U.S. domestic markets will be down. The Livestock Marketing Information Center (LMIC) forecasted per capita beef numbers would be two percent less than last year. Actually, the LMIC suggested decline in beef supplies could even be more than predicated since lower export figures and higher import numbers were used in the forecast than the true percentages proved to be. The report also said these lower domestic beef supplies will help support prices across all marketing channels. I hate to sound greedy, but I would like to see a little more of that envisioned support since feeder calf prices have declined lately and we still have calves to sell. I'm Jeff Keane.