U.S. beef imports are declining and are forecast to be 14 percent lower in the first quarter of this year compared with the same period a year ago, say USDA economists. In the agency’s monthly Livestock, Dairy and Poultry Outlook, they said imports were down due to large domestic supplies of processing-grade beef and smaller supplies in major beef exporting nations.
“Some of the declines were offset by 22 percent higher imports from Mexico” during February, said the report. In addition to higher beef imports from Mexico, cattle imports from Mexico are surging. Exchange rates mean an attractive price for Mexican cattle at a time when producers are rebuilding herd numbers, said the USDA.
U.S. beef exports are running above their year-ago levels, says the agency. Exports of 205.5 million pounds of beef in February were 19 percent higher than in February 2016, thanks to lower U.S. prices and a larger beef supply.