September 13, 2006

US beef exports slated for gradual rise

South Korea's recent agreement to ease its ban on US beef would gradually boost US exports next year, the USDA said Tuesday (Sep 12) in its monthly supply and demand report.

The USDA raised its US beef export forecasts for this year and 2007. The new monthly predictions raise 2006 beef exports to 1.123 billion pounds, up from 1.103 billion pounds, an increase of 20 million pounds.

2007 exports look even rosier, with volumes increasing to 1.5 billion pounds, up from 1.385 billion pounds, an increase of 115 million pounds. 

Exports to Canada and Mexico are expected to remain strong and South Korea's recent opening of its market to US beef would support growth for 2007 even if it is expected to be at a gradual pace, the USDA said.