USDA: Net Exports of Red Meat & Poultry to Rise in 2016, 2017

USDA forecasts for net exports (exports minus imports) of U.S. red meat and poultry in 2016 and 2017 show successive increases, largely due to higher beef production and expectations of solid growth in poultry exports, according to the Economic Research Service (ERS).U.S. beef exports are expected to increase by almost 9% in 2016 and by almost 7% in 2017, as the beef sector recovers from a multi-year drought in major beef-producing States and US production increases.Meanwhile, U.S. beef imports are forecast to decline by about 10% in 2016 and 11% in 2017, as supplies in Oceania tighten with herd rebuilding and larger supplies of US beef become available at lower prices.U.S. net poultry exports (broiler meat and turkey) are forecast to increase in both 2016 and 2017 reflecting higher production, lower prices, and strong foreign demand for relatively low-priced meat protein. In total, U.S. net exports of red meat and poultry are expected to be 10.3 billion pounds in 2016 and 11.5 billion pounds in 2017.