Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 8/18/2015
MID-YEAR LOOK AT U.S. EXPORTS: BEEF, PORK, CHICKEN

Looking at the first half of 2015, comparing exports year-over-year, shows a volume decrease of 9% for beef, 5% in pork, and 9% for broilers. When taking into account how production has changed the first half of 2015 compared to 2014 in respective industries, how are trade volumes really faring in the meat industry?


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FEEDSTUFFS OUTLOOK: CORN, SOYBEAN MEAL, HAY

On Wednesday (August 12th) USDA’s report (Crop Production from NASS and the WASDE supply and use estimates) clarified the potential for crops that are currently in the field. Industry market analysts had projected smaller U.S. corn and soybean crops compared to earlier USDA numbers, but the result was larger than anticipated production and lowered price expectations. U.S. hay production estimated by USDA also were a bit larger than anticipated in most major hay production states, the exception was California which this year is in-line with drought reduced output.


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HAY EXPORTS HIGHER

Hay exports account for about 3% of annual U.S. production and about 5% of domestic value. Still, exports are a market factor mostly for western and Pacific coast states. The main U.S. hay destinations are China, Japan, South Korea, Taiwan, and the United Arab Emirates (UAE). Alfalfa accounts for the majority of volume and value of hay exported to China, Taiwan, and the UAE. Other hay exports is the majority hay product exported to Japan and South Korea. As a whole however, alfalfa hay, on both a volume and value basis, accounts for just over half of total U.S. hay exports.


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