April proved to be a solid month for U.S. beef and pork exports despite COVID-19 related interruptions in production and declining purchasing power of some key trading partners, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports were below last April’s large totals but still topped $600 million in value. Pork exports remained well above year-ago levels but slowed from the record pace established in the first quarter.
“Considering all the challenges the U.S. red meat industry faced in April, export results were encouraging,” said Dan Halstrom, USMEF President and CEO. “Exporters lost several days of slaughter and processing due to COVID-19, and shipments to Mexico and some other Latin American markets declined due to slumping currencies and the imposition of stay-at-home orders. But despite these significant headwinds, global demand for U.S. beef and pork remained strong.”
While May export results will likely reflect similar obstacles, Halstrom noted that red meat production continues to recover, setting the stage for a strong second half of 2020.… Continue readingRead More »