Beef Export Value Climbs Despite Trade Headwinds
Even with ongoing trade challenges, there's some encouraging news for U.S. beef producers.
New trade data released by the U.S. Department of Agriculture and compiled by the U.S. Meat Export Federation shows May beef exports slipped 5% from a year ago by volume. But export value increased 2% to more than $818 million.
Higher values were driven by strong demand from Taiwan, Japan, Southeast Asia, Central and South America, and Egypt. Export value per head of fed cattle reached $468 in May, the highest level in nearly four years.
USMEF President and CEO Dan Halstrom says technical trade barriers continue to limit exports to China, but Taiwan has been a major bright spot. He also says higher tariffs on Australian beef in South Korea could improve opportunities for U.S. beef during the second half of the year.
The report also says U.S. lamb exports continued to trend lower in May, with muscle cut shipments down 41% from a year ago.
