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Export value for both U.S. beef and pork reached new heights in 2014, posting double-digit gains over the previous year’s totals, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
The 2015 forecast of total red meat and poultry production is higher than last month on increases to beef, pork, and poultry production. The milk production forecast for 2015 is lowered from last month as slower growth in output per cow more than offsets faster herd expansion.
A University of Missouri Extension agricultural economist says the slowdown is affecting the U.S. meat industry.
The song remains the same for the cattle market: tight supplies and high prices.
The forecast for total meat production for 2015 is raised from last month on increased beef and pork production. The milk production forecast for 2015 is lowered from last month on slower growth in cow numbers and milk per cow.
U.S. beef and pork export volumes trended lower in November, according to data released by USDA and compiled by the U.S. Meat Export Federation.