Record values buoy US beef industry but export volumes decline
08/01/2015
However, the cumulative 2014 volume totals were still higher year-over-year, with January-November beef exports up 2% to 1.1 million metric tons (mt).
With December totals still to be recorded, beef exports already set a new full-year value record of $6.49 billion (up 16% year-over-year).
November results were mixed for beef exports, with volume down 5 percent from a year ago to 96,348 mt, while value was 19 percent higher at $626.7 million.
USMEF CEO Philip Seng said: “Lower slaughter numbers reduced 2014 supplies, which obviously had an impact on prices, and in recent months buying power in many key markets has been affected by slowing economic growth and weaker currencies. Market access restrictions in several important markets, including China and Russia, also had a big impact on opportunities for US exports last year.
“The outlook for 2015 is for more of the same, but our industry has proven its ability to identify and develop export outlets in difficult times. When I look across the world as a whole, I still see good potential for further expansion of red meat exports in 2015.”
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