Three-year port contract pleases US beef association
08/08/2017
The industry had been severely affected by port strikes in 2014 which clogged up the supply chain and led some overseas buyers to seek meat from other markets.
USMEF CEO Philip Seng said: “The contract extension helps ensure that the United States will continue to live up to its reputation as a reliable red meat supplier. It is very good news for everyone in the supply chain – from farmers and ranchers to processors and traders – and for our customers in key Asian and Latin American markets.”
The contract between ILWU and the Pacific Maritime Association (PMA) now runs through June 30, 2022.
In June 2017, US beef exports were the largest of 2017, reaching 109,554 metric tons (mt) – up 11% year-over-year and the largest June total since 2011. Export value increased 10% to $602.5 million. From January to June, beef exports were up 12% in volume (606,876 mt) and 15% in value ($3.35 billion) compared with the first half of last year.