United States-Grain fed beef.

UNITED STATES-GRAIN FED BEEF.

The United States is expected to export 1.880 billion pounds of beef in 2009, a slight decline from last year’s 1.888 billion pounds. According to FAS Export Sales Report data through February 26th, total exports have been slightly above 2008 levels. While the totals have remained stable, the allocation of exports has shifted. Exports to Mexico appear to be down, while exports to Vietnam appear to be up from last year. The largest importer of U.S. beef, Mexico, has been below 2008, as the Mexican peso continues to depreciate against the U.S. dollar. U.S. exports have also benefited from the resumption of trade with South Korea. While export levels do not appear to be as high as they were when trade first resumed in the third quarter of 2008, the resumption of sales to South Korea has kept total exports about the same as last year. It will be difficult for exports to keep up with 2008 totals for the entire year, however.