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         Growing demand for marbled, grain-fed U.S. beef in ASEAN region

         Dan Halstrom Anticipates More Billion-Dollar Sale Export Months for Beef Exports but Warns of Headwinds

 

 

Growing demand for marbled, grain-fed U.S. beef in ASEAN region

Largest volume and value market for U.S. beef in the ASEAN offers strong export potential but the plant approval process remains a barrier.

 

Source: U.S. Meat Export Federation (USMEF)

via Feedstuffs - Jun 21, 2022

 

Steady export growth for U.S. beef, expansion of Korean and Japanese barbecue chains, increasing demand for home meal replacement at retail and growing consumer interest in food, nutrition and culture point to developing opportunities for U.S. beef in the world's 4th most populous country.

 

U.S. beef exports increased from 10,783 metric tons valued at $39.4 million in 2016 to 27,010 mt worth $118.4 million in 2021, according to data released by USDA and compiled by USMEF.

 

Sabrina Yin, USMEF ASEAN director points to rising incomes and increasing demand for convenience as indicators of export potential. With beef consumption still at a relatively low level, Yin sees opportunities expanding for U.S. beef in foodservice and retail.

 

"There is growing demand for marbled, grain-fed U.S. beef from premium Korean and Japanese barbecue chains and there is strong demand for short ribs, chuck roll, rib fingers, hanging tender and skirt steak from fast-casual beef bowl and affordable steak chains," says Yin.

 

At retail, ribeyes and short ribs are top U.S. products and consumer demand for easy-to-prepare home meal replacement products is growing. Beef variety meats are also in high demand, with beef livers, hearts, tongue roots, head meat and cheek meat imported by processors to make bakso balls (Indonesia meat balls).

 

The main challenge for U.S. beef...

 

more

https://www.feedstuffs.com/news/growing-demand-marbled-grain-fed-us-beef-asean-region

 

 

Dan Halstrom Anticipates More Billion-Dollar Sale Export Months for Beef Exports but Warns of Headwinds

 

Oklahoma Farm Report

21 Jun 2022

 

Senior Farm and Ranch Broadcaster, Ron Hays, is back with the president and CEO of the U.S. Meat Export Federation, Dan Halstrom, talking about the beef export outlook for the remainder of the year.

 

So far, 2022 has been a good year for beef exports. Three of the first four months in 2022, Halstrom said, were billion-dollar sale export months. For the rest of the year, Halstrom believes we will see a similar pattern.

 

"We are up five percent year-to-date," Halstrom said. "Our number for the year is between four and five percent, maybe slightly slower, but nevertheless a new record this year on the tonnage side, and the value is going to be up quite a bit more because prices are higher."

 

Multiple markets, Halstrom said, including Japan, Korea, and China are doing exceptionally well. In April, he added, Japan had the best month of the year and China has been up for the last year and a half.

 

In Central America and Latin American countries, Halstrom said the markets are up as well.

 

"The Caribbean is interesting because they had been back from Covid for over a year and food service and hotel business in the Caribbean is booming," Halstrom said. "Hotels are 90 plus percent or even 100 percent booked, and restaurants are packed, so there are a lot of things coming together that are positive."

 

Despite high demand in the markets, Halstrom cautions of the looming headwind of inflation.

 

"We all know what is going on with inflation and we all know what is going on with fuel prices, fertilizer prices, grain prices, and meat prices," Halstrom said.

 

While demand is strong at the moment, Halstrom said some of these countries' spending power is bound to become more limited eventually.

 

"We haven't seen it yet, but we see signs of it," Halstrom said. "We have that factored into our forecast as well but it's just something we have got to keep our eyes on. The bottom line is, that we have a very unique product globally and in the last year and a half, we have seen people paying for it."

 

One product that has had tremendous success over the last year is variety meats with billions of dollars worth of sales. While it has been a challenge having enough labor to capture all of the variety meats the market wants, Halstrom says we are getting closer.

 

"I do sense that maybe it has gotten a little better," Halstrom said...

 

more, including audio [5:42 min.]

http://www.oklahomafarmreport.com/wire/beefbuzz/2022/06/01001_BeefBuzz06212022DanHalstrom_095658.php