Outstanding sales to China, a key growth market in 2022, are currently 44% under last year’s levels.
Beef exports have been down by double digits for much of the year and the latest data did little to change that trend. August shipments of fresh/frozen and cooked beef were 85,862 MT, 20.7% lower than last year. Based on the pace of shipments in September, we would expect September exports to show a similar decline of around 18‐20% from last year. For the most current week net sales were 13,324 MT, below the pace of shipments, implying a downward trend in exports going forward.
Shipments for the week at 15,084 MT were 18% lower than a year ago. Exports to all three major markets (Japan, S. Korea, China) remain well below year ago levels. That trend is likely to continue as outstanding sales are currently 27% lower than a year ago. Outstanding sales to China, a key growth market in 2022, are currently 44% under last year’s levels.
Source: Daily Livestock Report - Steiner Consulting Group – Read Complete Article
