2.5 Billion Pounds of Meat Piles Up in U.S. as Production Grows, Exports Slow
A record level of beef, pork, poultry and turkey began stockpiling in U.S. facilities in July, reported the Wall Street Journal. U.S. production of meat far outpaces consumer demand, leaving the U.S. increasingly reliant on exports. But Mexico and China—two of the largest foreign buyers of U.S. meat— both implemented retaliatory tariffs on U.S. pork products. The combination of trade risk and expanding meat supplies could result in “one of the biggest corrections we’ve seen in the industry in several years,” said Senior Animal Protein Analyst Christine McCracken.