Beef Buzz News
Jim Robb of the Livestock Marketing Information Center Breaks Down Latest Beef Trade Numbers
Mon, 17 Dec 2018 13:08:09 CST
One of the best people to analyze our beef export numbers on a regular basis is Jim Robb of the Livestock Marketing Information Center. He talked recently with Radio Oklahoma Ag Network Farm Director Ron Hays about the latest numbers for October, speaking to both exports and imports.
"These are the official numbers for October, so they are a little bit dated, but they were positive for the beef sector," Robb said. "In terms of imports of beef, that was down for the month of October year-over-year by nearly five percent and the beef exports on a tonnage basis by nearly five percent."
Robb reports that in our top three markets, Japan was up just under 11 percent year-over-year. Exports to Mexico were up three percent year-over-year and exports to South Korea were up 17 percent year-over-year. Total, that equals out to an overall five percent year-over-year increase which Robb says is a bit smaller of a gain then we have had recently. However, he insists this clearly shows the industry is on track for record large beef tonnage exports for the year as well as record export value, too. This is in contrast a bit in comparison to pork and chicken which are up five and four percent for the year respectively.
"So, on balance, this is a positive report - especially for the beef sector. That's definitely encouraging, and the market is holding together very well from the beef demand component, especially at wholesale," he said," which has been a pleasant surprise in 2018."
Listen to Robb and Hays discuss the record setting year the US beef industry has had in 2018, on today's Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is 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.
Hear Robb and Hays discuss the record setting year the US beef industry has had in 2018, tap below.
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