Beef Export Values Hold Strong Despite Trade Challenges
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 the value of those exports actually increased 2% to more than $818 million.
The strongest gains came from markets including Taiwan, Japan, parts of 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 the industry is still facing significant headwinds. While China renewed some expired U.S. beef plant registrations in mid-May, many facilities remain unable to export there, and technical trade barriers continue to limit shipments. At the same time, Halstrom says Taiwan has been a major bright spot, with additional opportunities expected in South Korea during the second half of the year as a higher tariff on Australian beef improves the competitive position of U.S. beef.
The report also notes U.S. lamb exports continued to trend lower in May, with muscle cut shipments down 41% from a year ago.
