With historical record value, the United States exported more than one million tons of beef until the end of September

Published 2022년 11월 9일

Tridge summary

US beef exports increased by 4% to 1.1 million tons from January to September, generating $9.12 billion in revenue, a 20% increase from the same period last year and the second highest on record. However, the industry faces challenges such as inflation and currency weakening in key markets, as demand for specific cuts has decreased due to price hikes, leading consumers to opt for other lower cost animal proteins. Despite logistical difficulties from China's Zero Covid policy, it is the world's largest buyer of US beef. Japan, the largest market, has seen a 4% decrease but a 8% increase in value, while shipments to South Korea have grown by 3%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The United States Meat Exporters Federation (USMEF) reported that up to September, US beef exports rose to 1.1 million tons, which in annual terms represented an increase of 4%. These foreign sales resulted in an economic spill of 9,120 million dollars, a figure 20% higher compared to the same period last year, marking the second historical maximum after 10.5 million dollars will be reached in 2021. Dan Halstrom, president of the organization, said that although the commercialization has continued to rise, the inflationary effects at the international level and the weakening of the currency in important markets pose a challenge for the industry. According to estimates by the financial entity Rabobank, the increase in prices of this type of meat has caused consumers to reduce the demand for specific cuts, opting for other lower cost options and other animal proteins. YOU MAY BE INTERESTED: Inflation and high prices, the factors that change beef consumption Japan, South Korea and ...

Source: Ganaderia