The Farmer's Weblog
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Friday, October 18, 2002 |
Others
EU
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1
1997 2000 2003(f)
Broiler Meat Exports Recover After Russia Lifts Trade
Restrictions
Others
EU
US
Brazil
0
1
2
3
4
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1997 2000 2003(f)
Million tons (RTC)
U.S. meat exports (beef, pork, broiler and turkey)
are forecast to increase 7.7 percent to a record of
4.6 million tons in 2003. Japan, the largest market
for U.S. beef and pork, is expected to continue its
gradual recovery from the 2001 BSE crisis. While
Japanese consumers regain confidence, however,
the imposition of safeguard tariffs on beef could
constrain some of the prospects for growth in beef
imports. Mexican demand for U.S. meat is
expected to grow as tariffs under NAFTA are
scheduled for elimination in 2003. Global
competition in all three commodities will likely
intensify as the EU and the recently approved
accession countries streamline production to
accommodate tightening environmental standards.
At the same time, Australia[base ']s increased beef
production and limited opportunities for increased
exports to the U.S. will place downward pressure
on beef prices in other major export markets.
This is a major fact filled report. Check the link for all of the details.
6:33:56 PM 
Will There Still Be A Price Rally?
Expectations for $70+ fed cattle prices this quarter have diminished as the supply
of beef and competing meats remains strong and both domestic and export demand
continues to be challenged by events such as meat recalls and the West Coast dock strike.
Although beef cattle slaughter is down 1.7% year-to-date, carcass weights have been
about 3.6% higher in 2002 relative to last year. As a result, year-to-date beef production
is up 4.5%. Increased beef production, coupled with the tendency for cattle feeders to
place proportionately more heavy cattle on feed through the summer months, have caused
burdensome beef supplies going into the fourth quarter. With large supplies of beef and
other meats, slaughter cattle prices have languished in the mid $60s since June.
8:06:38 AM
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