April Beef Exports Below Year-Ago
Beef exports trended lower in April due to the impasse with China, along with year-over-year declines in other major markets, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
April beef exports totaled 89,783 mt, down 11% from a year ago, while value fell 5% to $780.6 million. While prospects are brightening for U.S. beef’s return to the China market, April results still reflected a near-total lockout. “Global demand for U.S. beef has proven very resilient, even in the face of tight supplies and higher prices,” USMEF President and CEO Dan Halstrom said. “But there are certainly significant headwinds, including the impact of weak currencies in Korea, Japan and Southeast Asia, and higher energy prices
weighing on consumer confidence and disposable income. And while we were thrilled to see China renew U.S. beef plant registrations following the summit meeting between President Trump and President Xi, additional obstacles must also be addressed before U.S. beef’s presence in China rebounds.”
Source: USMEF
