USDA’s ERS boosts 2023 beef, poultry export prospects

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USDA’s Economic Research Service (ERS) is projecting the U.S. will export $190 billion in agricultural exports next year, down $3.5 billion from its prior forecast in August and partially offset by gains in beef and poultry.

Livestock, poultry and dairy exports are forecast up $300 million to $41.4 billion in fiscal 2023, as increases in beef, poultry and variety meat exports more than offset declines in pork and the value of dairy products, the ERS said in its latest agricultural trade outlook.

Beef exports are up $500 million to $10.3 billion, driven by higher prices, according to the agency.

Agricultural exports to China — the largest market for U.S. goods — are projected to reach $34 billion next year, down $2 billion from the August estimate, with lower prospects for products including pork, the ERS said.