U.S. red meat export growth slows

U.S. red meat export growth slows U.S. red meat exports increased markedly in November, the U.S. Meat Export Federation said Friday.
   Port exports increased 20 percent compared to November 2007, though that’s down from the 61 percent increase in pork and pork product exports for the first 11 months of 2008. Beef exports saw a 9 percent hike in November, but that was also lower compared to the year-to-date increase of 37 percent.
   “Global protein supplies remain tight, with the exception of a few situations in key countries where stocks of imported red meat are weighing on the market, specifically in Korea and China,' said Erin Daley, USMEF economist. 'As currencies and prices stabilize, inventories will decline and demand for U.S. red meat will likely continue at a relatively strong level. Although pork exports are not expected to maintain the stunning pace of 2008, they are forecast to exceed 2007 volumes.'