Global Beef Demand Continues to Soar

U.S. beef exports turned in another strong performance in February. USDA data compiled by the U.S. Meat Export Federation says the strong month for beef was led by excellent value growth in key Asian and Latin American markets. Beef exports hit 108,500 metric tons in February, five percent higher than last year. Beef’s export value rose 35 percent to over $904 million. “Broad-based growth has become a recurring theme for U.S. beef exports as international demand has never been higher and global supplies remain tight,” says USMEF President and CEO Dan Halstrom. Pork exports trended lower as larger shipments to Mexico and Japan didn’t offset a decline in Chinese and Hong Kong demand. February pork exports totaled 198,530 metric tons: 17 percent lower than a year ago. Pork export value fell 14 percent from last year to $541 million. USMEF says logistical challenges were compounded in February by lower-priced pork offered by competitors.

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