News

The US will lose second place in the world's top beef exporters

Frozen Bone-In Beef
Meat
United States
Market & Price Trends
Published Nov 15, 2023

Tridge summary

The United States is facing a decrease in its beef exports and record-high beef imports this year. This is mainly due to a decline in the number of cattle, reaching its lowest level since 1962. As a result, major meat companies like Tyson Foods are experiencing shrinking profit margins.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

This year, the United States is experiencing record volumes of beef imports and a decline in export supplies. This is due to a decrease in the number of cattle, which in January 2023 reached its lowest level since 1962. Analysts predict that by the end of the year the United States will take only fourth place in the world in beef exports, while a year ago the country was in second place on the list. These changes have reduced the profitability of large meat companies, including giants such as Tyson Foods, Reuters reports. After years of drought plaguing U.S. rangelands, cattle numbers have plummeted, causing beef prices to rise significantly. Impacted by higher prices, the country has seen increased imports of more affordable beef and reduced exports to countries such as China, Japan and Egypt. According to forecasts by the US Department of Agriculture (USDA), this year the country will drop to fourth place in the world in exports of beef and veal (from second in 2022). ...
Source: Milknews
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