USDA revises ag export forecast upward

Citing higher than expected demand from China and other Asian countries, USDA has revised its prediction for 2010 U.S. ag exports to $104.5 billion, the second-highest level ever. That figure is second only to the $115.3 billion exported in 2008, the agency said.

Beef and veal exports are estimated at $3 billion, up from $2.59 billion in 2009. The agency cited tighter U.S. supplies in predicting pork exports would be $100 million lower this year, at $4.1 billion. Dairy product exports are predicted to hit $2.9 billion, up from $2.26 billion in fiscal 2009.

U.S. ag exports to China are expected to total $14 billion in 2010, up from $11.2 billion in 2009, USDA said. China would be the third-biggest overseas market for U.S. farm products, behind Canada and Mexico. Last year, China ranked fourth.

Citing higher than expected demand from China and other Asian countries, USDA has revised its prediction for 2010 U.S. ag exports to $104.5 billion, the second-highest level ever. That figure is second only to the $115.3 billion exported in 2008, the agency said.

Beef and veal exports are estimated at $3 billion, up from $2.59 billion in 2009. The agency cited tighter U.S. supplies in predicting pork exports would be $100 million lower this year, at $4.1 billion. Dairy product exports are predicted to hit $2.9 billion, up from $2.26 billion in fiscal 2009.

U.S. ag exports to China are expected to total $14 billion in 2010, up from $11.2 billion in 2009, USDA said. China would be the third-biggest overseas market for U.S. farm products, behind Canada and Mexico. Last year, China ranked fourth.