Global 2015 beef exports will reach a record 10.2 million tons, according to the latest Livestock and Poultry World Markets and Trade report from USDA. That estimate is up 3 percent from that in the last report issued in October 2014.
According to the report, larger shipments from India and to a lesser extent the EU and Paraguay more than offset declines by Brazil, Uruguay, and the United States. Imports by a number of oil-reliant countries such as Russia, however, are expected to decline due to declining oil revenues and weaker currencies.
The report projects U.S. beef production up 2 percent from the October report to 11.1 million tons, primarily based on heavier cattle weights. U.S. beef exports are revised 5 percent lower to 1.1 million tons due to a stronger dollar.
In breaking out exports by country, the report shows India increasing its lead over Brazil as the world’s largest exporter of beef. Much of India’s beef production and exports come from Buffalo, rather than cattle. Australia is the third-largest beef exporter, followed by the United States.
See the full report from USDA