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| Good demand and less competition:
U.S. beef exports during January were up 7.4% compared to a year earlier (+12.1 million pounds), due largely to increased shipments to South Korea and Japan. January beef imports were down 3.2% (-9.56 million pounds) due mostly to 14.9 million pounds less beef imported from Australia.
January beef imports equaled 14.7% of U.S. production while exports equaled 8.9% of production. Lower beef prices and a weaker dollar likely will be necessary to bring balance to imports and exports.
The number of cattle imported from Mexico was down 26,631 head (33.5%) compared to January 2015 and the imported number from Canada was down 4,724 head (8.4%).
The Canadian cattle inventory was up 0.3% at the start of 2016 to 11.96 million head. The Canadian cow herd was up a slight 0.1%. The number of beef heifers being kept for herd replacements was up 4%. | |
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Positive news
