U.S. beef exports rise in May

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U.S. beef exports were 217 million pounds in May – an increase of 4.5 percent from May 2012 – but trade is down 2 percent for the year. Exports have risen through May to Japan (+51 percent), Hong Kong (+52 percent), Canada (+16 percent) and Taiwan (+126 percent), but have been offset by declines in trade to Vietnam (-85 percent), Mexico (-25 percent), and South Korea (-24 percent). Exports in 2013 are forecast at 2.3 billion pounds, about 6 percent lower than 2012. Exports are forecast lower this year due to a 2.5 percent decline in beef production and forecast to decline slightly in 2014, again due to lower production.

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