USDA predicts a record year for agriculture exports in 2013 as strengthening global economies will help fuel export growth for most agricultural products, according to a report from Drover’s CattleNetwork.
According to its Aug. 30 trade outlook report, exports for 2012 will fall short about $1 billion from 2011’s record total, leaving a positive trade balance for fiscal 2012 of $30 billion, well short of the 2011 record trade surplus of $42.9 billion. Next year, USDA projects record highs for ag exports and imports, with exports reaching $143.5 billion, imports climbing to $117 billion and a trade surplus of $26.5 billion.
The August report lowers projected beef and veal exports for fiscal 2012 to $4.8 billion, from $4.9 billion forecast in May. That’s still well ahead of the 2011 total of $4.5 billion. For fiscal 2013, the agency projects beef and veal exports at $5 billion on higher volumes and unit values. The report projects export value for beef and pork variety meats at $1.5 billion this year and $1.4 billion in 2013, compared with $1.2 billion in 2011.