Worldwide | Seng Provides Market Update In Media Teleconference | Prospects f...
Worldwide
Seng Provides Market Update In Media Teleconference
Prospects for U.S. meat exports are looking up, USMEF President and CEO Phil Seng told 26 domestic and international reporters in a media teleconference today (March 1). Preliminary forecasts for 2007 indicate a 6.2 percent increase to 1.338 million metric tons for U.S. pork and a 17 percent increase to more than 765,000 metric tons for U.S. beef.
U.S. pork exports are expected to increase by 2 percent to Japan and by 25 percent to South Korea in 2007, according to Seng. U.S. pork exports worldwide were up 9 percent in volume and 9 percent in value from 2005 to 2006.
Meanwhile, U.S. beef exports are growing in all markets as access expands. While not up to pre-2003 levels, confidence levels are increasing and demand for the product is expanding.
U.S. beef exports to Japan should increase to 60,000 metric tons in 2007. Although beef trade is not officially part of the Free Trade Agreement (FTA) between Korea and the United States, Seng said the issue is definitely playing a role. Seng expects advances to be made in beef trade to Korea by the end of the month.
USMEF will post 2007 Export Forecasts once they are finalized and notify members.
For more coverage on the media conference, see the audio and print releases on the Industry News page.
Worldwide
Seng Provides Market Update In Media Teleconference
Prospects for U.S. meat exports are looking up, USMEF President and CEO Phil Seng told 26 domestic and international reporters in a media teleconference today (March 1). Preliminary forecasts for 2007 indicate a 6.2 percent increase to 1.338 million metric tons for U.S. pork and a 17 percent increase to more than 765,000 metric tons for U.S. beef.
U.S. pork exports are expected to increase by 2 percent to Japan and by 25 percent to South Korea in 2007, according to Seng. U.S. pork exports worldwide were up 9 percent in volume and 9 percent in value from 2005 to 2006.
Meanwhile, U.S. beef exports are growing in all markets as access expands. While not up to pre-2003 levels, confidence levels are increasing and demand for the product is expanding.
U.S. beef exports to Japan should increase to 60,000 metric tons in 2007. Although beef trade is not officially part of the Free Trade Agreement (FTA) between Korea and the United States, Seng said the issue is definitely playing a role. Seng expects advances to be made in beef trade to Korea by the end of the month.
USMEF will post 2007 Export Forecasts once they are finalized and notify members.
For more coverage on the media conference, see the audio and print releases on the Industry News page.