June 20, 2014

US beef imports rise 6% in first four months of 2014

From January to April 2014, US beef imports rose 6% on-year as lower beef production pushed up demand for imports. 

Increased imports from Australia (+26%) and Canada (+11%) offset the decrease in shipments from New Zealand (-5%), Uruguay (-24%) and Brazil (-25%).

Imports in April reached the highest monthly total since July 2007, particularly from Australia. Australia exported 96 million pounds to US in April, the highest monthly total in five years.

Total Australian exports through April also increased by 19% as a result of higher production in the country, due to the increased slaughter under the drought condition.

Beef imports typically peak in the second quarter as demand for processing-grade beef increases in the summer.

The US is forecast to import 2.446 billion pounds of beef in 2014, almost 9% higher compared to 2013.