The latest available U.S. trade data show that first-half 2017 animal products exports are higher for all major commodities versus 2016, according to the U.S. Department of Agriculture’s latest “Livestock, Dairy & Poultry Outlook.”
An increase in global demand and a decline in the U.S. dollar likely contributed to favorable conditions for exports, USDA said.
According to the U.S. Federal Reserve’s Price-adjusted Broad Dollar Index, the value of the U.S. dollar has fallen 5.9% since December 2016.
All products, except for eggs, are building on the positive annual growth seen in 2016 relative to 2015, the report said. In the case of eggs, the 2015 U.S. outbreak of highly pathogenic avian influenza resulted in a sustained rebuilding process for the egg-laying flock that limited production and trade. Now, supply has returned, but demand has not.
Mexico accounted for the largest share of U.S. animal product exports, with the exception of U.S. beef and veal exports, the largest share of which went to Japan. Mexico’s share to date in 2017 ranges from a low of 15% of U.S. beef and veal exports to a high of 64% of all U.S. turkey exports.