The USDA released this week’s beef export data Thursday morning, revealing a small move higher in net beef sales. Exports moved higher by less than one percent, increasing from 16,680 to 16,700 metric tons. Net export sales remain just under the average for the year and almost half of the year’s highest point set on January 9th.
Japan accepted the highest deliveries this week with 4,800 MT, Canada was second, receiving 3,300 MT and South Korea received the third-highest shipment from the U.S. with 2,000 MT.
Cattle futures moved lower Wednesday as commodity selling slows trading. Expectations remain optimistic for cattle to rebound on higher beef demand this summer.