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Farm Progress America, July 10, 2023Farm Progress America, July 10, 2023

Mike Pearson takes a look at the most recent report out from the U.S. Meat Federation which details how much beef, lamb and pork was exported.

July 10, 2023

Mike Pearson tells us about a report out about the U.S. Meat Export Federation and some good news for the pork industry.

The report shows many countries are pork hungry but beef exports are tight due to supplies.

In Mexico, there was record setting demand. It was up 21 percent from 2022 and 200 million value in exports in May.

And demand was up 25 percent in South Korea in May with a total of 21,000 metric tons exported.

Also in Asia, there was robust sales in the Philippines and a huge jump in demand in Malaysia.

In Malaysia, exports jumped 52 percent in January to May which meant an increase of 202 metric tons.

The demand has increased due to outbreaks of African Swine Fever in those parts of Asia.

However, beef exports are running behind due to high demand and limited supply. There were 116 metric tons exported in January to May which was down 14 percent.

The tight supply and higher pressures are expected to hamper beef exports in 2023.

The one bright spot when it comes to beef was an increase in the maximum value of carcass in 2023 with an increased demand exports for variety meats such as tripe, liver and tongues. The increased added $399.71 to the value of fed cattle in May.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, a farm broadcaster and host of This Week in Agribusiness.

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