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US Beef Exports Are Up

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High beef prices are part of the reason for inflation in the US.  Beef prices in the US are up over 20% from a year ago.  There is a good reason beef prices are higher.   According to the US Meat Export Federation beef exports are up 21% from January through September 2021.  During the 9 months of 2021, Japan is up 5%, South Korea is up 12% , China is up 672% and Mexico is up 17%.

As of last week,  US Federal Hog Slaughter was down 2.0% year to date. It does appear packers are controlling and keeping kill down.  A year ago the average carcass weight was 214.38 pounds. Now it is 215.27 pounds.  Packers appear to be moving what they own or have contracted ahead of cash negotiated hogs.

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