U.S. beef exports going strong this fall

OSU News Feed

The latest monthly trade data has been tabulated – for August – and U.S. beef trade
continued its impressive performance with monthly exports up 9 percent and year-to-date
export totals up 14.2 percent year over year.

For the year to date, Japan has a 28.8 percent share of U.S. beef exports followed
by South Korea at 20.6 percent. Mexico came in at number three with 14.1 percent followed
by Canada at 9.7 percent and Hong Kong at 8.9 percent. Taiwan accounted for 5.7 percent
of total U.S. beef exports.

“Unsurprisingly, fledgling U.S. beef exports to China have faltered with the trade
war,” said Derrell Peel, Oklahoma State University Cooperative Extension livestock
marketing specialist. Peel said. “U.S. beef exports to China in August were down from
the prior month and represented 0.47 percent of August U.S. beef exports.”

Monthly beef exports to China have decreased 47.5 percent since the pre-tariff peak
in May.

Total U.S beef imports decreased 3.4 percent year over year in August and are unchanged
for the year to date in 2018. Canada represented the largest share of U.S. beef imports
at 24.9 percent for the first eight months of 2018, followed by New Zealand with a
23.3 percent share, Australia with a 21.4 percent share and Mexico at 16.2 percent.

Brazil is listed as the number one exporter of beef, followed by India, Australia,
the United States and New Zealand. The United States remains the top beef-importing
market, followed by China, Japan, Hong Kong and South Korea.

“Brazil beef exports are projected to increase nearly 5 percent year over year in
2019, putting Brazil solidly back on top as the leading global beef-exporting country,”
Peel said. “India, which exceeded Brazil as the largest beef exporter from 2014 to
2016, declined in 2018 and is projected to decline again in 2019.”

Australia, which has struggled to recover from an earlier drought, is in drought once
again and is forecast to see year-over-year declines in beef …

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