USDA LOWERS FY 2002 EXPORT FORECAST FOR LIVESTOCK

Due to lower than expected export values for poultry and hides, USDA's Foreign Agricultural Service has lowered its forecast of the value of livestock product exports during fiscal year (FY) 2002 to $12.4 billion.

This is $200 million (2 percent) below the February 2002 projected value.  The FY 2002 total poultry product exports are forecast at $2.4 billion, down $160 million from the February projection and down 4 percent from FY 2001.  

The decrease in poultry exports is attributed to slower sales to Asian markets and the ongoing import restrictions in Russia, the largest market for U.S. poultry exports.  USDA said that recent outbreaks of Avian Influenza remain a potential constraint on poultry product exports to key markets.

The FY total hides and skins export value is forecast at $1.9 billion, down $180 million (9 percent) from the February forecast and down slightly from the previous year.  Prices are expected to retreat from last year's record  high levels.