US beef prices continue ascent
08/06/2015
Export volume reached 92,263 mt, the largest monthly volume since December 2014 but still down 7% year-over-year. The value, at $555.3 million, was also the highest since December and up 3% year-over-year.
From January to the end of April, beef exports totalled 341,927 mt, down 9% from the same period in 2014. But export value was still 4 percent ahead of last year’s record pace at $2.12 billion.
“Exports are still recovering from a slow start to the year, but the April results confirm that the US industry is regaining momentum,” said USMEF CEO Philip Seng. “April was really the first time this year that we saw relief from the West Coast port situation – not that shipping traffic was completely back to normal, but the worst of the congestion was clearly behind us. And despite the US dollar continuing to be very strong relative to the currencies of most key customers and competitors, demand for US meat is holding up well.”
However, he warned: “Australian beef is enjoying its second round of tariff rate reductions in Japan, and the projected slowdown in Australia’s beef production has not materialised.”
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