Beef Buzz News
U.S. Beef Exports Hits Annual Record-Value Levels in October
Fri, 10 Dec 2021 09:59:08 CST
Beef exports continue to be very strong. Today, Ron Hays, director for Radio Oklahoma Ag Network, spoke with Dan Halstrom, president and CEO of the U.S. Meat Export Federation, about the newly released October U.S. meat export numbers.
Listen to Ron's conversation with Dan here.
"The momentum from the previous months continues, especially on the beef side," Halstrom said. "We are up about 7% year-on-year for October and still on a pace of about 17 or 18% growth on beef."
He said the latest figures show that beef demand is on a trajectory to break more records in 2021.
"I sound like a broken record because I talked about this last month, but it is broad-based growth across a series of markets," Halstrom said. "China is the one we all talk about, but you got Japan, South Korea, Mexico, Central America - the broad-based nature of it is really encouraging."
One of the most eye-popping statistics out of the report is that U.S. beef has hit record value levels for U.S. beef for the entire year with two more months to go.
"We estimate that on beef we are going to be right at $10 billion in exports," Halstrom said. "On the pork side, we will be a little over $8 billion in exports."
All this is happening in the face of supply-chain challenges all over the world, Halstrom said. While beef is bustling, he said it looks like supply-chain issues are beginning to slightly improve.
Click on the LISTEN BAR below to hear more from Ron Hays and Dan Halstrom as they talk about the newly released October U.S. meat export numbers.
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.
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