Record Red Meat Exports USDA released the November red meat export statistics this week, which showed pork exports reached their highest monthly total on record (223,962 MT) and beef exports (111,915 MT), though down from November 2016, were still on trend to hit a record volume for 2017.
Pork exports were up in most markets except China (and Hong Kong) due to increased domestic production there. While the January-November volume was down about 9 percent versus the same period in 2016, however, the value was only 1 percent lower because of the demand for offal and variety meats. China (and Hong Kong) paid approximately 17 percent more for variety meats compared with last year, and the U.S. Meat Export Federation indicated the $667 milli...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
