Agricultural Exports in February 2018 Up Slightly

Market Intel / April 6, 2018

Data recently released from USDA Foreign Agricultural Service indicates that U.S. farmers and ranchers exported $11.3 billion of agricultural products to 183 countries during February 2018, up three-tenths of a percent from the prior February, and the highest levels since 2015. The top markets for U.S. agricultural products in February were Canada ($1.6 billion), China ($1.5 billion), Mexico ($1.4 billion) and Japan ($949 million). These four markets represented nearly 50 percent of U.S. agricultural exports during February.

Cotton and livestock exports were up 18 percent and 12 percent, respectively, to $788 million and $1.5 billion. Dairy product exports were up 4 percent to $448 million, and poultry product exports were up 12 percent to $408 million. Oilseeds and grains saw lower export values in February, down 5 percent and 15 percent, respectively. The oilseed export value of $2.5 billion is the lowest trade value for February since 2009.

The U.S. imported $10.5 billion in agricultural products during February 2018, up 11 percent from the prior year. U.S imports were led by $5.5 billion in horticultural products and $1.8 billion in sugar and tropical products. Major importers to the U.S. include Mexico ($2.3 billion), Canada ($1.7 billion) and Chile ($402 million). One hundred and sixty-five countries supplied agricultural products to the U.S. in February 2018. 

Contact:
John Newton, Ph.D.
Chief Economist
(202) 406-3729
jnewton@fb.org
twitter.com/@New10_AgEcon
 

Share This Article

Credit: 1778011/ CC0 

Milk production remains an integral piece of agricultural production in the United States. With wild market disruptions and supply chain shortfalls underpinning milk price volatility most of the past five years, understanding the farm bill provisions intended to prevent further dairy farm closures is vital.

Full Article
Credit: National Turkey Federation 

HPAI has had a significant impact on the supply of turkey available in the United States in 2022. Turkey production is below this time last year and is forecast to be lower yet in 2023. Fewer turkeys raised combined with strong demand, inflation and growing demands on food systems have led to record high prices for turkey and other poultry products such as table eggs.

Full Article