Foreign markets for beef industry products continue to grow, especially in Asia.
All market classes of beef cattle are at record high levels for this time of the year, but are lower than the all-time record highs established in the last half of 2014.
Despite high prices beef demand hasn't fallen off.
U.S. red meat export tonnage continued to post year-over-year increases in the latest data compiled by USDA, which is for the month of May.
Rabobank has issued a new report on the global beef industry, looking at continued tight global supply of cattle and beef in Q4 2014.
April exports of U.S. beef and pork were lower than a year ago while U.S. lamb exports continued their upward trend, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
U.S. beef exports maintained their strong momentum in May.
February beef exports declined 6% year-over-year to 94,885 mt while value was down 3% to $581.6 million.