It appears that the market looks promising for American beef products moving into 2021. The U.S. Meat Export Federation is estimating an increase of approximately 10 percent in exports next year. The COVID-19 pandemic caused a multitude of challenges for the beef industry in 2020. Market conditions have started to improve within the last few months. Despite the setbacks of COVID-19, U.S. beef was still able to make gains in 2020.
“When you look at what our exports did through the pandemic, we increased our market share in Japan by six percent. We now have about 56 percent of the market share in Korea,” said Vice Chair of the Cattlemen’s Beef Board, Hugh Sanburg. “So, even though there were huge challenges we did see improvement in some of our key markets.”
Listen to the radio report below.