Beef Buzz News
Beef Exports For May Down 33 Percent But USMEF President Optimistic Numbers Will Improve Later This Year
Wed, 08 Jul 2020 09:30:04 CDT
The meat export numbers for the month of May were significantly lower and although stopping short of calling it a one-time event, Dan Halstrom, president and CEO of the U.S. Meat Export Federation, believes better days are ahead. Halstrom spoke with Radio Oklahoma Agriculture Network Associate Farm Director and Editor KC Sheperd.
I think it pretty much followed along the numbers we expected, Halstrom said.
May beef exports were down 33% from a year ago to 79,280 metric tons (mt), with value falling 34% to $480.1 million, as shipments were higher than a year ago to Hong Kong and China but trended lower to most other markets. For January through May, beef exports fell 3% below last year's pace in volume (512,596 mt) and 5% lower in value ($3.14 billion).
The export numbers were down on beef, as we saw the impact of the supply chain disruption that started in April, Halstrom said.
I think especially those markets provided with chilled products is where we saw a lot of the impact in places like Japan, Mexico, Taiwan and Korea, Halstrom said.
However, he remains positive about the outlook for rest of the year.
The fact we’re back to 95 percent of slaughter capacity it sets up well to see better numbers the rest of the year, Halstrom said.
The reason Halstrom is optimistic is because the demand for U.S. meat remains strong.
In places like China, Japan and Korea, they are on the backside of recovering and their markets are booming, Halstrom said.
If there is one region of the world where I am nervous is Mexico and Latin America where they are behind the U.S. in feeling the impacts, Halstrom said.
Their infrastructure is less equipped to deal with the impacts as compared to Asia and the U.S., he said.
It will come back but it will take more time than we had hoped, Halstrom said.
Click on the LISTEN BAR below to hear the complete interview with Dan Halstrom and KC Shepherd.
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.
Ron Hays Beef Buzzes With Dan Halstrom
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