Recession, supply chain issues could slow meat exports
While U.S. red meat exports will likely set a value record approaching $20 billion this year, the industry faces an array of obstacles related to the sluggish global economy, weakening currencies of key trading partners and lingering effects of the COVID pandemic, said Randy Blach, CEO of CattleFax during the U.S. Meat Export Federation’s (USMEF) Strategic Planning Conference recently.
Blach said the larger-than-expected contraction of the cattle herd helped drive U.S. beef production and exports to record highs in 2022 but will be a significant constraint for U.S. exporters next year.
The drought also raised production costs for cattle...
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