Overview
- On Thursday, USDA revised its week‑ending June 25 beef export sales down to about 12,064 metric tons from an initial 126,062 metric tons and said the earlier figures were reported in error.
- The July 2 report had shown unusually large, record‑size sales to Chile and Italy that were later reduced to roughly 367 metric tons and 350 metric tons respectively, with 14 other countries also seeing downward revisions.
- Traders and analysts had immediately questioned the original spike and now say the correction amplifies concerns about the agency’s reporting after recent mistakes, a failed 2022 rollout, staff losses and a new reporting system launched this spring.
- U.S. beef is trading at record prices because of tight cattle supplies and strong domestic demand, and exports have declined since 2022 as higher prices and lower production cut foreign buying.
- The error could prompt tighter oversight of USDA export reporting and affect market trust, with buyers, sellers and policymakers watching whether weekly sales data remain a reliable signal for trade and pricing.