Beef Buzz News
Robb: Beef and Pork Exports Surging Despite Higher Prices
Mon, 02 Jun 2014 15:30:26 CDT
LMIC's Jim Rob talks about the export outlook for beef.
When you step back and take big picture look at the beef and pork exports right now, first quarter turn out pretty good says Jim Robb Director of the Livestock Marketing Information Center.
"I think overall for the first quarter of this year, we were pleasantly surprised on total red meat exports," Robb said. "Both beef and pork were
up substantially for the first quarter and we have record high beef prices, so that's the good news."
"On the beef front, we had for the month of March, exports up over five percent from year ago levels, with very strong exports to two key countries, Mexico and South Korea, Robb said. "Some softness some other markets, but those are two markets that we really do watch closely and are two of top four marketplaces."
"On the pork side, we had a huge surge in exports up 22 percent from a year ago," Robb said. "We have remember on the pork front that most of those orders were made prior to the huge runup in the pork cutout value, the wholesale market, due to the Porcine Epidemic Diarrhea, but still on balance on surprisingly good export demand across the red meats for the first quarter of 2014."
With the tight supplies for beef and pork, that pushes prices higher, expecially for international buyers, Robb is optimistic this trend will continue in 2014.
"Beef exports have been rather heathy, the value of beef exports is still setting records for most months, but the tonnage at these high prices, we would maybe expect a little bit slippage on the tonnage front compared to a year ago as we get into the summer months, just depending on what our wholesale beef prices are," Robb said.
"So in fact a little bit of slippage might be less than normal given the record high beef prices as a economist looks at this export demand, Robb said. "I think demand will hold up overall, but to maintain strong year over year increases in the beef export market could be difficult this summer with our very tight supplies and record high beef prices."
"As we look, certainly the Asian markets are key and I think we need to also monitor the Mexican market as one of the key export markets that can provide some pleasant surprises as we look ahead, " Robb said.
While there are some battles going on over middle-meat cuts, steak like cuts between domestic and international consumers, there are various cuts of the beef carcass like beef short ribs and variety meats that international users are willing to pay a lot more than the domestic customers, so as long as demand hold strong for those items its really good news for the US Cattle industry.
Robb's comments were complimentary of Eric Atkinson of Agricultural Today with Kansas State University Research and Extension News.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
NCBA President Craig Uden Testifies on the Imperative Nature of Securing a Foot & Mouth Vaccine Fri, 24 Mar 2017 15:42:29 CDT
Get Paid More by Paying More - Attention that is - to the Dollar Index of Your Next Bull's EPDs Thu, 23 Mar 2017 12:31:03 CDT
The Fire is Out- But Tom Fanning Continues to Lead Wildfire Relief Efforts in Northwest Oklahoma Wed, 22 Mar 2017 06:12:49 CDT
Shane Bedwell Believes the Modern Day Showring and Genomic Selection Tools Can and Do Intersect in a Positive Way Tue, 21 Mar 2017 03:43:09 CDT
What's the Outlook for Beef Exports After Early Success in 2017? Jim Robb of the LMIC Weighs In Fri, 17 Mar 2017 17:15:45 CDT
2017 Marketing Year Off to a Good Start as Demand for Beef Strengthened by Pro-Trump Sentiments Thu, 16 Mar 2017 11:28:27 CDT
Genomic EPDs Help Producers Learn the Value of Prediction Accuracy When It Comes to Breeding Wed, 15 Mar 2017 15:58:59 CDT
Fresh Worries About Well Being of Cattle That Survived the Wildfires of Last Week- Tom Fanning Explains Tue, 14 Mar 2017 06:01:49 CDT
Maintaining Proper Leg and Foot Structure in Your Herd Can Benefit Cattle's Longevity and Productivity Mon, 13 Mar 2017 12:14:41 CDT
Integrity Beef Sustainability Project Offers Opportunity to Test US Roundtable's New Metrics Fri, 10 Mar 2017 11:07:21 CST
Industry Has High Expectations for Integrity Beef Project to Improve and Strengthen Relationships Thu, 09 Mar 2017 12:08:49 CST
What's Really the Underlying Issues Causing Market Volatility - Dr. Derrell Peel May Have the Answer Wed, 08 Mar 2017 12:35:45 CST
Stocker Producers Brace for Margin Squeezes as Feedlots Take Advantage of a Low Cost of Gain Tue, 07 Mar 2017 12:14:38 CST
Beef Board Working to Provide Beef Industry with More Insights into Consumer Demand for Beef Mon, 06 Mar 2017 12:16:31 CST
Feedlots Making Money Now- Stocker Margins are Tough- Derrell Peel on Current Cattle Market Profit Outlook Thu, 02 Mar 2017 10:17:31 CST
NCBA Cheers the Prospect of WOTUS Going Down the Drain Wed, 01 Mar 2017 16:54:04 CST
Cattle Markets in Pretty Good Shape Right Now- So Says OSU Livestock Market Economist Derrell Peel Tue, 28 Feb 2017 15:56:08 CST
USDA's Latest Cattle on Feed Report Reveals Implications of Heavyweight Feedlot Placements Mon, 27 Feb 2017 12:28:26 CST
Don't Let Parasites Suck All the Profits Out of Your Beef Cattle Herd - Get Rid of Them at the Source Fri, 24 Feb 2017 14:46:43 CST
Just How Prepared are We for the Event of a Foreign Disease Outbreak in the Heart of Cattle Country Thu, 23 Feb 2017 11:47:37 CST
The Process May Be New, But the Idea is the Same - Observations from NCBA's Chief Vet on VFD Wed, 22 Feb 2017 11:16:39 CST
Good Genetics and Hard Work - the Secrets Behind the Success of Express Ranches' Seedstock Tue, 21 Feb 2017 11:20:17 CST
Express Ranches CEO Shares His Strategy for Selecting the Right Bull Using EPD Based Decisions Mon, 20 Feb 2017 13:05:59 CST
McDonald's Insider Explains Sustainability from a Retailer's View at Texoma Cattlemen's Conference Fri, 17 Feb 2017 13:11:26 CST
No One Straight Shot at Fixing WOTUS, NCBA Taking All Avenues to Rid Cattlemen of the Rule Thu, 16 Feb 2017 11:49:59 CST
Trade Disruptions by Potential NAFTA Renegotiations Could Leave Meat Export Business Vulnerable Wed, 15 Feb 2017 11:20:03 CST
Cohesion Between the Segments of Production Critical in the Sustainability of the Beef Business Tue, 14 Feb 2017 15:27:37 CST
Roundtable for Sustainable Beef Adding Final Touches to Its Plan Before Sharing with the Industry Mon, 13 Feb 2017 18:09:45 CST
Traceability Looms Large in Ongoing Negotiations with Chinese Government to Accept to US Beef Fri, 10 Feb 2017 12:19:18 CST
Growing Demand in Asia Drives US Beef Exports Beyond Expectations in 2016 - Can We Keep It Up Thu, 09 Feb 2017 12:35:18 CST
Producers' Hard Work and Intentional Herd Management Style Credited as CAB's Secret to Success Wed, 08 Feb 2017 12:05:51 CST
CattleFax CEO Says Industry Working Hard to Create Transparency and Limit Volatility in the Markets Tue, 07 Feb 2017 12:40:02 CST
CattleFax CEO Suggests Industry Take Time to Reflect on the Changing Nature of the Marketplace Mon, 06 Feb 2017 13:15:22 CST
CattleFax Predicts a Stabilization in Cattle Market Prices During 2017 at Cattle Industry Convention Fri, 03 Feb 2017 13:12:38 CST
What's the Beef Market's Real Worry for 2017? Rabo's Don Close Paints His Picture by the Numbers Thu, 02 Feb 2017 11:30:23 CST