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CME: November Beef Export Shipments, Sales Quite Strong

02 December 2019

US - Weekly trade data released from USDA offered a rather positive view of US beef export demand although, as usual, we suggest you pay attention to the detail and understand what these numbers tell us, writes Steiner Consulting Group, DLR Division, Inc.

November beef export shipments and sales have been quite strong. The following chart shows official export shipments in blue and monthly volume implied by the weekly report. You will note that the number implied by the weekly report is always lower than the official statistics because it is a subset of the total but both numbers track quite well.

You will note that, based on weekly data reported so far this month, November beef export shipments could be the highest so far this year. Exports to Japan have shown notable improvement in recent weeks but last week USDA also noted strong export shipments and sales to Mexico and Canada. (See page 2 of this link for full details).

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