Exports of U.S. pork are down by 17 percent for the first half of this year compared to 2014, due to the strong dollar and to increased competition for sales to Asia, says the U.S. Meat Export Federation, a trade group based in Denver.
The Agriculture Department distributed $200 million in cost-sharing funds to 84 organizations to promote U.S. farm exports and to build markets for the products overseas.
Pork exports shot to $4 billion at the end of July, the first time cumulative sales hit that level in so short a time, says the U.S. Meat Export Federation. Exports from January through July equaled 28 percent of U.S. production, up 2 percent from 2013, said the federation. "U.S. prices began to moderate in August, so these price gaps have now been narrowed or eliminated. Going forward, this should relieve some of the price pressure on U.S. exporters.” said Philip Seng, chief executive of the trade group.