Solid 4Q forecast for US meat exports
Oct. 25, 2011
by Meat&Poultry Staff
DENVER – Most recently, the US dollar has strengthened against most foreign currencies. This, in turn, can affect US beef and pork exports, both in terms of both customer purchasing power in major export markets and when priced against the currencies of major competitors, such as Brazil, Australia and Canada.
This will make for a tougher business climate in the fourth quarter, compared to the rest of 2011, warns Erin Daley Borror, US Meat Export Federation Economist. However, she remains confident US exports will post a solid performance through year’s end because global demand is strong and the pricing environment is roughly the same as it was in the final quarter of 2010. US beef and pork exports during that time achieved very solid results.
Both US beef and pork exports are projected to set new value records in 2011, with each breaking the $5 billion mark for the first time ever, according to USMEF.