Beef Buzz News
US Beef on Track to Break Export Records in 2014
Wed, 06 Aug 2014 12:17:45 CDT
The world appetite for beef continues to grow. Last year was a record breaking year for beef exports and 2014 has the potential to be even better. At the recent Summer Cattle Industry Convention in Denver, US Meat Export Federation President and Chief Executive Officer Phil Seng told Radio Oklahoma Ag Network Farm News Director Ron Hays about the strong start to US beef exports in 2014. Click on the LISTEN BAR below to hear Seng's complete comments.
Seng said for the first five months of this year the US has increased beef exports by nine percent on a volume basis and 17 percent on a value basis
"Right now we are on a pace to probably eclipse six and half million dollars," Seng said. "For a fed steer, basically an animal presented at slaughter, about $245 a head is the export dividend for that, so its significant to the viability of the beef industry and also hopefully it will be an impetus for expansion in the beef industry, something we sorely need and the world sorely needs."
Exports began to grow significantly in 2013 when Japan began importing US beef from cattle 30 months of age and younger. Seng said our exports last year to Japan went up by 56 percent.
In 2014, export growth is being influenced by China as they import beef from all sources. India, the second largest exporter of beef, has exports up 17 percent, Australia is up 17 percent, Brazil exports are up 13 percent and Canada is up nine percent. Seng said we're seeing increasing demand throughout the world, but you're seeing a shrinking world beef supply that is driving exports.
Seng said tightness of supply is presenting some challenges to some of our regular buyers of US beef.
"We're seeing certain markets like Japan, even through they have the highest duty for beef in the world, they are able to procure the product," Seng said. "They are able to buy the product, but we are seeing some of the other markets, the more marginal markets where this does have more of a impact."
Over the last ten years USMEF has worked on developing new cuts, less expensive cuts from underutilized cuts. Because of that work Seng said they are seeing a pretty high increase to nearly all destinations. There are just a few places where exports aren't growing right now. Seng said US beef exports to the middle east are down five percent from a year ago and exports to parts of South America are down, but for the most part exports levels up. That's encouraging considering the record high beef prices buyers are paying today.
Unless there is some unexpected event between now and the end of the year, Seng said 2014 looks like another record breaking year for US beef exports, especially when it comes to overall value.
Ron Hays Beef Buzzes with Phil Seng of USMEF
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Beef News
January Cattle on Feed Report Three Percent Under Year Ago- Derrell Peel Says Tighter Supplies Will Be Around for Awhile Mon, 23 Jan 2023 05:15:04 CST
Derrell Peel Talks Latest Cattle on Feed Report- Showing Fewer Cattle on Feed, Lighter Placements and Stronger Marketings. Mon, 26 Dec 2022 08:19:00 CST
Kara Lee with Certified Angus Beef Tells Cattlemen 'Cut the Bull' Fri, 23 Dec 2022 14:30:39 CST
Beef Checkoff Utilizes Digital Marketing Techniques to Interact with Consumers Thu, 22 Dec 2022 16:02:51 CST
Beef Checkoff Research, Education, and Promotion Efforts Point Consumers to Beef Wed, 21 Dec 2022 16:15:46 CST
OSU Economist Derrell Peel Expects US Beef Export Strength to Continue Into the New Year Tue, 20 Dec 2022 08:00:35 CST
NPPC's Michael Formica Feeling Positive About Supreme Courts Upcoming Proposition 12 Decision Mon, 05 Dec 2022 10:08:27 CST
NCBA Fights to Improve Marketing Options for Cattle Producers Fri, 02 Dec 2022 09:58:28 CST
Chinese Consumers Continue to Grow Appetite for U.S. Beef Thu, 01 Dec 2022 09:23:49 CST
Merck Creates Value for Producers and Consumers with Technology and Biopharmaceuticals Wed, 30 Nov 2022 09:55:28 CST
NCBA’s Todd Wilkinson Ready to Fight Back Against Regulatory Overreach in the Cattle Industry Tue, 29 Nov 2022 10:13:33 CST
NCBA and PLC Call ESA Listing Plan of Lesser Prairie Chicken Punitive for Cattle Producers in Southern Plains Wed, 23 Nov 2022 14:51:02 CST
November Cattle on Feed Report Confirms October Pattern of Lower Placements and Tighter Cattle Numbers in Feedlots Tue, 22 Nov 2022 05:07:02 CST
Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report Mon, 21 Nov 2022 04:36:33 CST
Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report Mon, 21 Nov 2022 04:27:40 CST
Midterm Elections to Set Stage for What Can Be Expected in 2023 Farm Bill Mon, 07 Nov 2022 12:13:57 CST
USMEF's Dan Halstrom Remains Cautiously Optimistic about Strong Beef Demand Going Forward Thu, 03 Nov 2022 09:35:46 CDT
Economic Factors Create Hesitancy in Beef Plant Expansion Plans Wed, 02 Nov 2022 11:03:34 CDT
NCBA's Mike Simone Says Consumer Interest in Fake Meat is on the Decline Tue, 01 Nov 2022 11:41:02 CDT
Beef Remains Valued Product for Consumers as it Allows Them to Stretch their Dollar Mon, 31 Oct 2022 09:15:56 CDT
Hugh Aljoe Provides Methods to Begin and Maintain Good Land Stewardship Fri, 28 Oct 2022 09:30:13 CDT
Implement Soil Health Practices Now to Increase Forage Production when Rains Come Thu, 27 Oct 2022 15:14:07 CDT
Third Beef. It's What's For Dinner. 300 Promotes the Beef Industry on a National Level Wed, 26 Oct 2022 15:32:23 CDT
Latest Cattle on Feed Report from USDA Implies Fewer Pounds of Beef Available in 2023 Tue, 25 Oct 2022 10:17:53 CDT
OSU's Derrell Peel- Lower Placements and Smaller On Feed Number Highlight October Cattle on Feed Report Sun, 23 Oct 2022 12:45:37 CDT
Beef Checkoff Research Continues to Share Beef Sustainability Story with Consumers Fri, 21 Oct 2022 09:23:36 CDT
Beef Checkoff Research Works to Ensure Consumers Beef is a Product They Can Trust Thu, 20 Oct 2022 13:44:44 CDT
Odds for Significant Wheat Pasture Going Lower Daily in the Southern Plains Wed, 19 Oct 2022 14:35:46 CDT
NCBA Weighs in on California's Proposition 12 Tue, 18 Oct 2022 11:32:24 CDT
2022 Stockyards Steak Out Takes Oklahoma Beef to the Next Level Mon, 17 Oct 2022 11:09:07 CDT
Holding Onto Your Cow Herd a Little Longer is Projected to Pay Off, says Randy Blach Fri, 14 Oct 2022 08:14:05 CDT
Randy Blach Confident in Better Cattle Market Conditions Down the Road Thu, 13 Oct 2022 09:43:02 CDT
No Imports or Exports Would Result in a Smaller U.S. Beef Cattle Industry Wed, 12 Oct 2022 16:11:15 CDT
Derrell Peel Explains Why International Trade of Beef is Valuable Tue, 11 Oct 2022 08:19:29 CDT
Animal Agriculture Hopeful for a Win as U.S. Supreme Court Looks at California's Proposition 12 Mon, 10 Oct 2022 09:26:17 CDT