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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (25999)	12/3/2007 9:31:09 PM
From: elmatador	Respond to of 220211

USDA Sees Pork Exports Hitting New Record On Weak Dollar. USD (adjusted for relative inflation rates) is expected to depreciate 5 percent against the euro, 6 percent against the Chinese yuan, 3 percent against the Brazilian real, 8 percent against the Argentine peso and 0.5 percent against the Mexican peso in 2008. The dollar is expected to be up 2 percent versus the Japanese yen and unchanged against the Canadian dollar, USDA forecast. USDA Sees Pork Exports Hitting New Record On Weak Dollar USDA boosted its forecast of U.S. pork export volume to a new record in 2008 and beef export volume will remain steady, while dollar values of both rises due to a continued weak U.S. dollar against key importer currencies. In its November Outlook for U.S. Agricultural Trade report, the agency forecast 2008 pork exports (including chilled, frozen and processed meats) will hit a record volume of nearly 1.1 million metric tons valued at $2.7 billion, up from its August forecast of 1.0 million metric tons valued at $2.6 billion, which would have been basically unchanged from 2007. Record-large hog slaughter, a weaker U.S. dollar and lower hog prices in the United States all supported the upward revision. USDA left its beef and veal export forecast for 2008 unchanged in volume at about 545,000 metric tons, up from about 442,000 metric tons exported in 2007. It said combined sales to Japan, Canada and Mexico would offset any declines for South Korea resulting from the current sales suspension. Beef and veal exports are now expected to be worth about $2.4 billion in 2008, up from USDA's August forecast of $2.2 billion and last year's $1.9 billion because of the weak dollar. Relative to 2007, the U.S. dollar (adjusted for relative inflation rates) is expected to depreciate 5 percent against the euro, 6 percent against the Chinese yuan, 3 percent against the Brazilian real, 8 percent against the Argentine peso and 0.5 percent against the Mexican peso in 2008. The dollar is expected to be up 2 percent versus the Japanese yen and unchanged against the Canadian dollar, USDA forecast.