Foreign demand for U.S. beef to remain strong into 2012

U.S. beef exports for 2011 continue to remain robust. Twenty-one-percent growth is expected this year as beef exports are forecast at 2.78 billion pounds. Key factors supporting the strong export market in 2011 are: (1) increased demand for U.S. beef as disposable incomes of foreign consumers increase, (2) a worldwide multi-year decline in total cattle inventories and beef production, (3) an increased number of foreign countries purchasing U.S. beef, and (4) a favorable exchange rate (with a relatively weaker U.S. dollar making U.S. product more attractively priced in global markets).

Through October, the largest increases in U.S. beef exports have come from South Korea (+45 percent), Japan (+31 percent), and Canada (+33 percent). Along with Mexico (+1 percent), these countries are the largest importers of U.S. beef, totaling almost two-thirds of the total U.S. beef exported through October 2011. Notably, export totals to Hong Kong (+41 percent), Egypt (+23 percent), and Russia (+85 percent) have also posted strong growth increases. Through October, the seven countries listed above imported just over 80 percent of total U.S. beef exports. In 2012, with U.S. beef production expected to be down 5 percent, total exportable supplies will be squeezed. The strength seen in the export market, however, is expected to continue into next year, including growth in Asian markets. Although there will be a tighter U.S. supply, beef exports are expected to be about even with this year’s levels.

1. Burger King continues to invade delivery territory
2. Corn futures relapse in wake of Wednesday's rally
3. Commentary: Kiwi controversy
4. Cattle Markets: Cattle prices up with seasonal rates
5. NASA backs 3D food printer to feed growing population
6. Some South Dakota livestock auctions entering the digital world

1. Former Eastern Livestock CEO, CFO sentenced for federal crimes
2. Post-tornado composting a solution for disposal of dead livestock
3. Michigan hay buyers should plan purchases early
4. Seven jobs more dangerous than farming
5. New animal identification rules aid disease traceability
6. More beef cows in worst drought regions than a year ago

1. Commentary: GMOs: How do I hate thee?
2. Commentary: In praise of animal foods
3. Meat and climate change: How significant is the impact?
4. Seven jobs more dangerous than farming
5. What’s on America’s grill this weekend?
6. Survey reveals most Americans in favor of COOL