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TSCRA Daily News Update, April 18, 2008
USDA's weekly export sales report as of April 10 indicates a fairly significant revision in last week's export sales report. Total sales were revised downward from 21,661 metric tons (mt) to 12,728 mt, and shipments from 18,050 mt to 9,117 mt. This week’s sales were 8,995 mt, and shipments were 9,415 mt.
Year-to-date sales and shipments to Mexico at 104,200 mt (230 million pounds) are one-third larger than at this time last year; to Canada they're 25,500 mt (56 million pounds), which is a pace that is 60 percent greater than last year; beef sales and shipments to the EU, Japan, Russia, Taiwan and Vietnam at 48,500 mt (107 million pounds) are more than double last year’s 18,800 mt (41 million pounds).
Even with global food price inflation, the price of beef has remained constant. Suddenly, consumers all around the world are recognizing the value of beef when it is compared with other proteins.
This is providing excellent marketing opportunities that we have never witnessed before in history. For example, we are exporting large quantities of rounds to Russia. But even more interesting is the amount of whole muscle cuts suddenly going to the Middle East (Egypt and Dubai) and Peru.
Prospects of Korean trade resumption, considerable recent strength in the price of 50 percent lean trimmings and another slide in the value of the U.S. dollar have also provided a strong underpinning for the cattle market in recent days. Anecdotal industry information also suggests the prospects for more sales to Russia are strong.
But with this growth in U.S.beef, pork and poultry exports experienced thus far in 2008, another issue is emerging of considerable concern: a shortage of available refrigerated containers.
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