US agricultural exports are expected to rise in 2017 from 2016 levels, largely due to higher exports of oilseeds and products, horticultural products, cotton, and livestock, dairy, and poultry.
According to the latest Outlook for US Agricultural Trade Report from the US Department of Agriculture’s Economic Research Service and Foreign Agricultural Service, agricultural exports in fiscal year 2017 are projected at $133.0 billion, up $6.0 billion from the revised fiscal 2016 forecast of $127.0 billion.
Agriculture Secretary Tom Vilsack said: “These numbers once again demonstrate the resiliency and reliability of US farmers and ranchers in the face of continued challenges.
“The projected growth in exports in 2017 is led by increases in overseas sales of US oilseeds and products, horticultural goods, cotton, livestock, dairy and poultry. And with a rise in global economic growth, global beef demand is expected to strengthen.
“While USDA continues working to eliminate the remaining restrictions on US beef exports that were instituted by some trading partners as a result of the December 2003 bovine spongiform encephalopathy (BSE) detection, US beef exports have recovered.”
Some beef restrictions remain, but US beef exports are expected to reach $5.3 billion in 2017, well above the $1.5 billion exported in FY 2004.
By: The Cattle Site News Desk
Source: The Dairy Site