Beef Buzz News
Despite Minor Declines, US Beef Export Business Continues to Perform Well as Fringe Markets Grow
Thu, 13 Jun 2019 13:17:13 CDT
The most recent numbers out form the US Meat Export Federation show that through April, beef exports for the year are holding up pretty well compared to one year ago. Though down just slightly, the overall performance has been fair. Katelyn McCullock, director of the Livestock Marketing Information Center says that the numbers show some big winners but also underscores where sales have started to lag in certain countries compared to previous years.
Hear McCullock's complete analysis of the current export numbers and beef demand situation below.
According to McCullock, beef exports fell in April 4 percent below a year ago with Canada chief among those customers with lower totals, declining 22 percent compared to last year and Hong Kong declined 41 percent. Conversely, South Korea, Vietnam and China all showed strong growth year over year.
“That’s a really positive sign as those are some of our more fringe markets, although South Korea is now the second largest market for beef this year,” McCullock said. Year to date, she says beef purchases are at 48 million tons behind Japan, the largest US importer of beef. South Korea alone though has increase 20 percent in April over last year - impressive when stacked against 2018 during which exports climbed 38 percent annually. “So, we’re showing a lot of strong demand from South Korea.”
Korea is another bright spot, climbing up 40 percent over the year before. That is on top of the annual gain of last year’s 23 percent, McCullock points out. When taking all things into account, the gains and the declines, McCullock is resolved that given the larger beef supplies currently working through the pipeline, things should be on track both domestically and internationally to keep product moving.
“We still have a lot of production on the market. So, I take it as a good sign that even though the percentage changes don’t tell the full story when you compare against 2018 - which was a very strong year for beef - I think we’re still in relatively good shape from a balancing of supply and demand perspective.”
Listen to McCullock’s complete analysis of the current export numbers and beef demand situation, with Radio Oklahoma Ag Network Farm Director Ron Hays, 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.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
CFAP Payments For Cattle Producers Close To Estimated Losses Says OSU's Derrell Peel Wed, 27 May 2020 10:11:58 CDT
OSU's Dr. Peel Says Packing Plants Have Incentive To Return To Full Capacity Tue, 26 May 2020 09:50:06 CDT
No Surprises Found in the May USDA Cattle on Feed Report- So Says OSU Economist Dr. Derrell Peel Sat, 23 May 2020 16:41:14 CDT
Animal Rights Activists Using COVID-19 Crisis To Attack Ag Animal Industry Fri, 22 May 2020 10:30:10 CDT
NCBA President Marty Smith Encouraged By Government Aid Program And Packing Plant Progress Fri, 22 May 2020 03:55:11 CDT
Boxed Beef Prices Fall As Supply Chain Catches Up With Demand Wed, 20 May 2020 10:20:11 CDT
Packing Plants Slowly Increasing Capacity But It Could Take Months To Work Off Cattle Back Log, Says KSU's Dr. Glynn Tonsor Tue, 19 May 2020 09:40:55 CDT
Packing Plants Slowly Increasing Capacity But It Could Months To Wrok Off Cattle Back Log, Says KSU's Dr. Glynn Tonsor Tue, 19 May 2020 09:18:11 CDT
Consumers Will Have Plenty of Beef For Memorial Day Cookouts, Says NCBA's Colin Woodall Mon, 18 May 2020 09:44:12 CDT
More Relief Could Be Headed To The Farm, Says NCBA's Colin Woodall Fri, 15 May 2020 10:38:11 CDT
Beef Exports Value Estimated at $1 Billion For U.S. Cattle Producers, Says Dr. Derrell Peel Thu, 14 May 2020 17:14:56 CDT
NCBA's Alisa Harrison Explains New Beef Consumer Research And Memorial Day Campaign Wed, 13 May 2020 10:27:15 CDT
Getting Labor Force Back Online Critical For Packing Plants, says Iowa State's Dr. Lee Schulz Tue, 12 May 2020 10:01:16 CDT
Fomer CBB Chair Chuck Coffey Says It's Our Job to Promote Beef Mon, 11 May 2020 10:06:23 CDT
Ag Economist Bart Fischer Explains Why Beef Trade Must Be a Two-Way Street Fri, 08 May 2020 10:04:16 CDT
Texas A & M Ag Economist Bart Fischer Says Investigation Into Meat Market Collusion is Underway Thu, 07 May 2020 10:32:18 CDT
OSU's Dr. Peel Urges Understanding The Meat Industry Before Making Wholesale Changes Wed, 06 May 2020 10:30:28 CDT
Beef Producers Working To Help Food Service Industry Reopen Tue, 05 May 2020 09:57:16 CDT
Years of Beef Checkoff Research Now Paying Dividends For Consumers, Says NCBA's Alisa Harrison Mon, 04 May 2020 09:59:18 CDT
U.S. Meat Export Industry Ready to Meet The Global Market Demand, Says Dan Halstrom, USMEF President and CEO Fri, 01 May 2020 09:55:12 CDT
U.S. Meat Eport Federation Bracing For Full Impact of COVID-19 Thu, 30 Apr 2020 10:07:11 CDT
Trump's Order To Keep Meat Processing Plants Open Will Not Immediately Fill Retail Meat Counter, Says OSU's Derrell Peel Wed, 29 Apr 2020 10:05:17 CDT
Katelyn McCullock, Livestock Market Information Center, Believes Cattle Market Could Get Worse, Depending on Plant Closings Tue, 28 Apr 2020 10:10:11 CDT
Latest Cattle on Feed Report Shows Why There is a Ripple Effect Happening in The Cattle Processing Chain as Cattle Are Being Backed Up Into May and June Mon, 27 Apr 2020 11:55:13 CDT
TCFA President Ross Wilson Requests USDA To Waive COVID-19 Payment Limits Fri, 24 Apr 2020 17:47:12 CDT
OCA's Michael Kelsey Offers Insight Into Cattle Producers Forced to Make Tough Decisions During Uncertain Time Thu, 23 Apr 2020 10:17:10 CDT
The Navigable Waters Protection Rule, Which Replaces The Old WOTUS Rule, Is Now Official. NCBA's Chief Environmental Counsel Scott Yager Explains What That Means Wed, 22 Apr 2020 10:08:37 CDT
As Cattle Processing Drops 20 Percent, KSU's Dr. Glynn Tonsor Offers Hope Beef Demand Will Rebound Tue, 21 Apr 2020 09:56:32 CDT
USDA Coronavirus Funds Tagged For Livestock Producers, But Relief May Be a Month Away, Says NCBA's Colin Woodall Mon, 20 Apr 2020 09:51:54 CDT
Colin Woodall, NCBA CEO, Is Hopefull Meat Packing Plant Closures Are Only Temporary Fri, 17 Apr 2020 09:55:10 CDT
The Live Cattle Futures Market is Relevant, Yet Seems Overly Pessimistic Says Don Close, Rabo AgriFinance Analyst Fri, 17 Apr 2020 04:56:10 CDT
Economist Don Close with Rabobank Compares COVID-19 Impact on Beef Industry to Nixon Era Price Freeze Wed, 15 Apr 2020 14:28:12 CDT
OSU Extension Livestock Economist Dr. Derrell Peel Says Fear of The Unknown Driving The Cattle Market Now Tue, 14 Apr 2020 09:59:16 CDT
Economic Analysis Shows Beef and Pork Prices Negatively Impacted by Temporary Plant Closings Mon, 13 Apr 2020 10:15:54 CDT
KSU Livestock Market Economist Glynn Tonsor Explains Once In a Lifetime Shock to Beef Industry is Partly to Blame For Market Disruption Fri, 10 Apr 2020 09:58:28 CDT