US meat exports to Japan to increase: Analysts
March 18, 2011
by Meat&Poultry Staff
NEW YORK – Analysts have predicted both Tyson Foods Inc. and Smithfield Foods Inc. may increase meat exports to Japan because of the disruption of that country’s output due to the nation’s recent deadly earthquake and tsunami.
Speaking to Bloomberg, Jeffrey Farmer, a Boston-based analyst for Jefferies & Co., said Japan’s demand for imported pork will increase in coming months. Increased shipments of US beef and pork to Japan may increase prices, added Tim Ramey, an analyst for D.A. Davidson & Co., Lake Oswego, Ore.
“Our export business to Japan remains steady for now,” Tyson spokesman Gary Mickelson told MEATPOULTRY.com. “We’ve had no disruption in shipments and our Tokyo sales office is operating and fully staffed. It remains premature to predict how the unfortunate situation in Japan will affect our export sales going forward.”