Russia’s ban on U.S. agriculture products should not have an impact on overall pork exports, according to the USDA. The agency, in its August 12 World Agricultural Supply and Demand Estimates (WASDE) report actually increased its projections for U.S. pork exports in 2014 and 2015.
USDA stated in its report that the demand in other major markets will more than offset the loss of Russia as a trade partner.
The August WASDE report called for 5.07 billion pounds of U.S. pork to be exported in 2014, up from the July estimate of 5.005 billion pounds. The trend is similar for 2015. The August report projects 5.15 billion pounds of U.S. pork to be exported in 2015, up from the July projection of 5.09 billion pounds.
US pork production forecasts also raised
Forecasts for U.S. pork production in both 2014 and 2015 were raised in August by the USDA. The agency called for 22.78 billion pounds of pork produced in 2014, up from its July estimate of 22.76 billion pounds. The projection for 2015 U.S. pork production was updated in August to 23.28 billion pounds, up from the July forecast of 23.24 billion pounds.
According to USDA, the projections for U.S. pork production were raised because lower feed prices are encouraging producers to raise animals to heavier weights.