July was a strong month in the beef market both for the U.S. and Canada according to Anne Wasko, market analyst with Gateway Livestock Exchange.
“On the U.S. front, strong pork and beef exports continue to be the story,” she says adding that in July alone, beef exports from the U.S. to the rest of the world were up 17 per cent. Year-to-date they were up 15 per cent.
“Leading the way for markets would be Japan and South Korea,” Wasko says.
As far as pork exports for July, they were up nine per cent, and year-to-date up 6.5 per cent. Wasko explains July was also a great month for Canada, especially with exports to Japan and China (Hong Kong specifically). Total beef exports were up five per cent, with the year-to-date also pegged up five per cent.
“Like I say, July into Japan, up 71 per cent from last July so year-to-date were only up 19 percent, but it was a great month,” she says.
Host Shaun Haney points out most could be bullish for beef exports to Japan as the trans-pacific-partnership hasn’t been implemented yet, so the high export numbers gives Canada even more market preferential access to Japan in comparison to the U.S.
“We have real potential to really increases sales to Japan, you have to think,” Haney says.
For the full breakdown on the beef market this past week, listen below.