America's beef export shows an increase

Beef prices rose sharply in the United States in May and June. However, this does not appear to be an obstacle to beef exports, which are showing a significant increase. 

Total beef exports in America for June amount to 78.708 tons. That is 11,7% more than last year in the same period. 

Where did the beef go?
The largest part of the beef export went to Japan, namely 22.794 tons. This means that the number is 12% higher than last year around this time. More beef was also exported to Mexico. That country took 10.898 tons from the Americans, which is a 16% increase from 2016. South Korea also showed more interest in the American meat. That country took 13.813 tons, an increase of 13% compared to last year.

So the higher prices for American beef have so far had no effect on the export market. This could be explained by the fact that the dollar is currently weak. As a result, the impact of the higher tariffs is hardly visible during export.

The value of beef exports in June amounts to $521,6 million. That's about $54,5 million higher than last year in the same period. 

Demand remains excellent
If the demand for beef remains this strong, beef exports in August could be more than 10% above last year. The Americans have the advantage that the stock in Australia is limited and that Japan still does not want to import beef from South American countries. Also the export recovery to Mexico is an important development.

Kimberly Baker

Kimberly Bakker is an all-round editor at Boerenbusiness. She also has an eye for the social media channels of Boerenbusiness.

k.baker @boerenbusiness. Nl

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