USMEF Outlook Pt 1

From the Ag Information Network, I’m Bob Larson. While U.S. red meat exports ended the year on near record pace and will likely set a value record approaching $20 billion, the industry still faces many challenges thanks to a sluggish economy, the lingering effects of the COVID pandemic and more.

But U.S. Meat Export Federation Chairman Dean Meyer says we have a very vibrant meat market in the U.S. …

MEYER … “You know, everybody likes steaks and the high-quality cuts, and that’s where the U.S. Meat Export Federation is very sensitive to that. We realize that production is going to be down next year, the next couple of years, because of the extreme drought in the Southwest.”

And, Meyer says USMEF is creative at finding markets for all meat cuts …

MEYER … “Taking those underutilized cuts and those variety meats and putting them in the market where they create the most value. And in years like this where production goes down, it behooves us even more to take those cuts and use them even in markets. Some of the markets take our higher-dollar cuts to substitute and underutilized cut.”

Meyer says other markets appreciate that …

MEYER … “They want our product. They want to continue a relationship. Countries like Japan that are only 38% self-sufficient, and they’re our largest beef market, second largest pork market. It’s important to them to continue to get product from us. So, USMEF really excels at doing that.”

Tune in tomorrow for more on U.S. red meat exports in 2022.

In the first 10 months of 2022, beef export VALUE increased 18% from last year’s record pace to reach $10.05 billion, topping $10 billion in a single year for only the second time. January-October export VOLUME was 1.25 million mt, up 4% from a year ago.