South Korea-Big jump in US Beef imports.

SOUTH KOREA-BEEF IMPORTS.

According to the U.S. Meat Export Federation (USMEF), 2008 beef exports are on pace to reach 94 percent of the 2003 value. Nearly 11 percent of U.S. beef and beef variety meat production was exported in January through November 2008.. Export value equated to $134.83 per head of steer and heifer slaughter. For comparison, in 2003 about 13 percent of production was exported, equating to $136.46 per head.

Total beef exports of 2.01 billion pounds from January to November 2008 were up 29 percent and valued at $3..37 billion, an increase of 40 percent. Beef and beef variety meat exports were up 37 percent and18 percent from 2007 levels, respectively.

"Global protein supplies remain tight, with the exception of a few situations in key countries where stocks of imported red meat are weighing on the market, specifically in Korea and China," said USMEF economist Erin Daley.. "As currencies and prices stabilize, inventories will decline and demand for U.S. red meat will likely continue at a relatively strong level.."