U.S. Beef Enjoyed Strong Growth In 2016

The U.S. beef export market experienced strong growth in 2016, up 12% from the year prior.  Known as the quality leader on the global stage, U.S. beef products have recently made great strides with key trade partners, Japan and Korea.  Dan Halstrom with the U.S. Meat Export Federation says the boost overseas adds real value back home for the nation’s cattle producers.

“For every animal slaughtered, value wise, $294 currently is the value is attributable to the export market.  And the good shift that’s going on right now, we’ve seen our share in the past year, grow dramatically into Japan and Korea."

With multilateral trade deals canceled, on hold or subject to renegotiation this winter, Halstrom said U.S. beef owes much of its current strength in Asian markets to higher quality than the Australian alternative.

“Part of it is we have more supply and more competitive prices, and also part of it is, we’re seeing a decreased supply out of Australia.  They’re coming out of a drought, they’re starting to get rain, and they’re retaining cattle so, there’s less meat supply available.”

Halstrom said is a good thing for American beef producers.  Industry experts forecast continued growth in the export market for 2017.

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