U.S. pork exports posted the best month on record in November, reaching new highs in both volume and value, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). November exports of U.S. beef were below the previous year's large totals.
According to a monthly report of USDA data compiled by the U.S. Meat Export Federation (USMEF), U.S. pork exports increased 22% year-over-year in August to 244,256 tons. Total pork export valued increased 19% to $588.8 million. This could be good news for sales of utility tractors in the 40-60 horsepower range, which are most commonly used in the production of livestock.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.