September 24, 2009

US beef exports are forecast to rise slightly on-year to US$2.6 billion in value in fiscal 2010, based on a 2.5-percent increase in volumes and slight gains in the unit value of exports, according to the USDA's latest Quarterly Agricultural Export Forecast.

The growth is based on a general global recovery, with shipments to major markets expected to be higher.

The report said that beef imports for fiscal 2009 are expected to exceed 2008-levels due to lower prices and product previously exported to other countries is now being shipped to the US, particularly manufacturing product to Russia in Australia's case.

USDA expects beef imports to increase another 11 percent in fiscal 2010 to one million tonnes, valued at US$3.3 billion.