Exports: Beef Hits Homerun

August 10, 2018 02:40 PM
Red meat exports in the first half of 2018 were a cause of celebration for U.S. livestock producers—and kept prices afloat during expansion.

Red meat exports in the first half of 2018 were a cause of celebration for U.S. livestock producers. With both pig and cattle herds amid expansion and inventories at record highs, exports have become even more critical to maintaining positive prices for producers.

Trade headwinds were not expected, however.

Despite the trade turmoil, U.S. exports of beef and pork remain above last year’s pace, Joe Schuele, U.S. Meat Export Federation’s vice president of communications, told Chip Flory on AgriTalk.

“There's a lot of good news there, especially on the beef side,” Schuele said. “Pork exports also had a good half. But as you saw on our report— we didn't sugarcoat it. We gave some warning signs that the second half could be a struggle if we don't get some of the trade disputes worked out.”

“Good news on the lamb side too. Lamb had kind of a tough year on the export side in 2017 and we're seeing a nice rebound there,” he adds.


Beef Values Jump on Access to Japan, Other Growing Markets

On a per head basis, Schuele says U.S. cattlemen can attribute $317 to exports. “That's about double where we were just seven, eight years ago,” he said. “That's that's a pretty amazing stat.”

Total export values for the first half snuck up over $4 billion (up 21%) for the first half of the year. This is the first time to reach that milestone before August. In 2010, beef’s export value for the year was only about $1 billion.

Read more: Asian Markets Lead the Way for U.S. Beef Exports

Part of that success came from wider access to Japan’s market. “We don’t have full access to Japan post-BSE, but we’re pretty close.”


Listen to Schuele’s analysis of recent purchases in the Korean and Latin American markets in the audio clip above.


Back to news


Spell Check

Douglas Street
Newton, KS
8/12/2018 12:52 AM

  Craig, you nailed it. However without COOL, the answer is easier to hide!

Kearney, NE
8/11/2018 07:26 AM

  If we can "add" $317 per head due to exports, how much can we subtract per head due to imports? In most years we import more than we export.


Corn College TV Education Series


Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!


Market Data provided by QTInfo.com
Brought to you by Beyer