US beef imports on the rise amid declining global demand

US beef imports in November 2008 reached 206 million pounds, posting an 11-percent increase year-over-year.

Imports from Australia remain lower on-year but the drop was less than those seen in the past few months. Meanwhile, Australian exports to Russia have decreased since their mid-year peaks as the Russian economy weakens after hitting high in the first half of the year. Australian beef has also had to compete with US beef in the South Korean market since July. The US remains a solid export market for Australia due to reduced demand in other countries. US imports of Canadian beef have partially risen as a result of the strengthening US dollar.

A total of 2.482 billion pounds of beef are importing by US in 2008, a 19-percent decrease from 2007. However, imports are expected to increase 8 percent in 2009, to 2.68 billion pounds. Reduced demand in both developed and emerging markets should mean that more foreign production is sent to the United States.