US Beef Exports Are Up
LIVESTOCK AM OUTLOOK
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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