What will beef exports look like in 2024?
While beef exports have been down this year, specialists in the cattle markets are looking ahead to next, saying more purchases from China could help strengthen the numbers.
The U.S. is the largest supplier of grain-fed beef into China, making up 7 percent of their imports. Cameron Bruett with JBS says exports there were down 23 percent this year but he is expecting more purchases in 2024.
Exports to Japan were also down this year, coming in 21 percent lower. That puts overall beef exports in 2023 15 percent lower after last year’s record performance.