Beef Exports Set Value Record in March
“That was on a value basis, up by a third year on year. So, for a little bit of context, we've seen those beef prices, including for the export items accelerate from about April-May a year ago. So, we're going to get into more challenging year on year comparisons, especially from the middle of this year. But yes, every month continues to be impressive, and it's exporting a larger share of production and pretty widespread growth.”
While China, including Hong Kong, continue to be big gainers, the market is still struggling with setbacks in China due to COVID…
“Maybe pulled back our growth for the entire year a bit given the situation mostly in Shanghai but in other cities, and then of course concerns about Beijing. Especially if there's a COVID case, there's big challenges for moving product, not to mention demand impacts with restrictions on food service. But still, this can't last forever, and we know there's still the demand in that market.”
Lots to think about. Again that’s Erin Borror, U.S. Meat Export Federation Vice President for Economic Analysis.