U.S. beef exports set a new value record in May while also increasing significantly year-over-year in volume, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
USDA's acreage numbers injected a substantial amount of uncertainty into both markets that appears set to stay in place throughout the summer, according to University of Illinois agricultural economist Todd Hubbs.
U.S. meat production faced challenges in April and May as packing plants implemented worker safety measures for COVID-19, causing concern about available supplies. But production has rebounded in recent weeks.
Following its recent national election, Taiwan will soon welcome a new presidential administration. On May 20, Tsai Ing-wen will be sworn in as Taiwan's first female president. Though Tsai had the most moderate po
Led by South Korea, Japan, Taiwan and Latin America markets, July beef exports climbed 12% in volume to 116,575 mt, valued at $722 million – up 16% from a year ago and just slightly below the May 2018 record.
U.S. companies that export red meat to Canada now face simpler and clearer requirements, thanks to a joint initiative by the USDA Food Safety and Inspection Service and the Canadian Food Inspection Agency.
Recent price support caused by a lower national yield forecast dissipated this week, as negative consumption news and improving weather for harvest appeared, says University of Illinois ag economist Todd Hubbs.