August 6, 2020

US Meat Export Federation projects strong outlook for second half of 2020

The United States Meat Export Federation (USMEF) projects the country's beef exports to be strong for the second half of this year, the Iowa Agribusiness Radio Network reported.

Dan Halstrom, USMEF president and CEO said two major trade agreements will help US beef exports this year, even though there has been decline in export numbers because of meat plant disruptions.

Halstrom was speaking to cattle producers at the Cattle Industry Summer Business Meeting in Denver.

Halstrom cited the US - Japan agricultural agreement implemented on January 1 this year as the country' biggest export market for beef, with US$2 billion in value. The agreement between both countries reduced import duties imposed on US beef to match with major competitors.

Halstrom also said the domestic beef industry is only starting to benefit from the US - China Phase 1 trade agreement, which included abolished age restriction for US products, abolished traceability requirements and China accepting synthetic hormonescodex maximum residue levels.

US beef exports to China increased 66% through May compared to the year prior to 5,000 tonnes, valued at US$39 million.