US beef exports are forecast to be valued at US$2.6 billion in fiscal 2010 (12 months ending 30 September 2010), slightly higher than fiscal 2009. The projection is based on higher volumes (up 2.5%) and slight gains in the unit value of exports, according to the USDA's latest Quarterly Agricultural Export Forecast.
       
       The growth in beef exports are based on a general global recovery, with shipments to major markets expected to be higher.
       
       The report states that beef imports for fiscal 2009 are expected to exceed those of 2008 as prices have fallen and product previously directed to other countries is now being shipped to the US; particularly manufacturing product to Russia in Australia's case. USDA predicts that beef imports will rise a further 11% in fiscal 2010 to one million tonnes, valued at US$3.3 billion
       
       Source: MLA, Sep 23/2009.