November 22, 2010

US beef exports outweigh imports

The US was a net exporter of beef in both quantity and value terms in September.

The weaker US dollar has been the key reason for the progress in US beef exports and decline in US beef imports.

US beef exports during September increased by 14% on year-ago levels to 84,174 tonnes. US exports to Japan (14,475 tonnes) and Korea (8,233 tonnes) rose by 44% and 143%, respectively, on 2009 levels. Exports to the US's largest market, Mexico decreased by 26% to 16,577 tonnes due to poor economic situations and a weak peso continues to slow down trading conditions.

Interestingly, US beef exports to other markets also helped to increase in volumes shipped, jumping 46% and 90%, respectively, to the Middle East and Russia.

On the contrary, US beef imports during September decreased by 12% to 70,963 tonnes, mainly because of a 22% decline in imports from Australia, as imports from Canada and New Zealand rose by 16% and 9%, respectively.