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Asian demand for U.S. beef led to new record

 

The U.S. Meat Export Federation says increasing demand from Asian markets last year led to a new record export value for beef.

USMEF President Dan Halstrom says through November 2017 beef exports totaled more than $7.2 billion.  “What does it really add to you as producers? On a fed cattle basis, $282 per head. Of course, it’s no surprise led by Japan, $75 per head, Korea $47, Mexico $38, etc.”

He adds finding an export market for less desired cuts is boosting the total value of beef.  “Beef lips are worth over $2 per pound today, and virtually all of them are exported to Mexico. So, $2 per pound versus rendered value of $4 per head.”

Halstrom believes increasing beef production in the U.S. and a weakening dollar will also help continue to move more beef globally.

Audio provided by the U.S. Meat Export Federation