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USDA trade report: FY 2013 exports forecast at a record $142 billion
Story Date: 2/22/2013
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Source: USDA, 2/21/13
Fiscal 2013 agricultural exports are forecast at a record $142 billion, down $3.0 billion from the November forecast, but $6.2 billion above final fiscal 2012 exports. Grain and feed exports are forecast down $4.3 billion mostly on reduced corn prospects. Oilseed exports are up $1.0 billion due to strong soybean meal and oil shipments. Cotton exports are forecast up $400 million, primarily due to greater import demand from China. The forecast for livestock, poultry, and dairy is up $300 million with greater beef and poultry exports outweighing lower pork shipments. Horticultural exports are unchanged at a record $32 billion. Sugar and tropical products are forecast down $300 million on lower expected exports to Canada and Mexico.
U.S. agricultural imports are forecast at a record $112.5 billion, $2.5 billion lower than the November forecast, but $9.1 billion higher than in fiscal 2012. The reduced forecast is largely due to lower expected imports of sweeteners, coffee, and rubber. The forecast trade balance in fiscal 2013 is lowered $500 million to $29.5 billion. This is down $2.9 billion from fiscal 2012.
To read the full report, click here.
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