The U.S. Meat Export Federation (USMEF) opened its annual strategic planning conference in Tucson, Arizona, focusing on the U.S. election’s implications for agricultural policy and international trade. Attendees were briefed on key developments, including the newly inaugurated administration in Mexico, a vital trading partner as the largest export market for U.S. red meat.
USMEF President and CEO Dan Halstrom presented an overview of 2024’s red meat export performance and projections for the coming year. Despite challenges in Asian markets, demand for U.S. pork and beef remains resilient. Halstrom anticipates U.S. pork exports will exceed 3 million metric tons, valued at $8.63 billion, while beef exports are expected to grow by 5% to reach 1.28 million metric tons, valued at $10.5 billion. Growth in Latin American demand for U.S. red meat is also driving these record forecasts. He noted the importance of maintaining market share amidst growing competition from Brazil, particularly in Latin America and Japan, and highlighted opportunities to explore new markets like Africa.
Keynote speaker Jim Wiesemeyer provided an analysis of the recent U.S. election, noting a potential shift in congressional seats that could affect the legislative agenda, including an increased likelihood of passing a new Farm Bill by the end of 2024. Wiesemeyer also addressed upcoming policy priorities and the possibility of significant changes in agricultural and trade policy.
The conference also focused on Mexico’s new administration, with insights from trade expert Mateo Diego of AGON, who discussed President Claudia Sheinbaum’s approach to agricultural trade. While U.S.-Mexico trade relations remain beneficial, Diego cautioned about potential tensions, particularly surrounding restrictions on genetically modified corn imports, U.S. labeling requirements for beef and pork, and disputes over produce import limitations. Diego highlighted the importance of maintaining stability in the agricultural trade relationship and encouraged USMEF members to advocate for the U.S.-Mexico-Canada Agreement (USMCA) as a foundation for predictable trade.
The conference will continue with a livestock panel and standing committee meetings on Thursday, concluding on Friday with officer elections and additional election analysis.
