December 21, 2007

Improved projections US '08 beef exports and imports

Beef exports in the US are seen to rise in 2008 as restrictions beef in Korea and Japan are expected to be eased next year, according to the US Department of Agriculture. The USDA also said that US beef imports are also forecast to increase for 2008 as border restrictions on older Canadian cattle have been lifted.

US beef imports in 2008 are estimated to jump by 6 percent this year, to 3.4 million tonnes hundredweight (cwt), while US beef exports are forecast to jump 19 percent on 2007, to 1.7 million tonnes cwt - up 49 percent than last year.

Overall US meat production forecasts for 2008 looks to rise slightly on estimated volumes for 2007, as increased fed cattle slaughter offsets a fall in the slaughter of cows. Both the numbers of cattle (including cows) and hogs slaughtered and those still in the pipeline have remained high in the fourth quarter 2007.

The USDA predicts US beef production will fall 1 percent to 26.1 million tonnes cwt in 2008. Next year's pork and poultry production are both expected to rise 2 percent on 2007, to 22.3 million tonnes cwt and 42.8 million tonnes, respectively.