The latest international meat trade data is generally positive.
U.S. meat exports continued to grow, year-over-year, in the latest trade data for August. Beef exports were up 29.5% from last year, along with pork exports up 11.4% and broiler exports up 16.7%.
Additionally, beef imports were down 16.0% in August, while cattle imports were down 18.0%, compared with levels one year ago. Total U.S. red meat and poultry production in 2016 is projected to increase 2.7% over 2015 levels. However, nearly half of that increase is expected to move off-shore, with net meat exports projected to increase 11.5% compared with 2015. This will hold domestic meat consumption to a projected 1.3% year over year increase.
Beef leads the way in 2016 with production projected to increase roughly 4.6% over year-ago levels. In terms of quantity, the U.S. will continue to be a net beef importer in 2016, but a nearly 60% decrease in net beef imports will limit domestic beef consumption to a projected increase of 1.7%
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