Agricultural exports in fiscal year 2016 are forecast at $124.5 billion, which are $500 million below the February projection and $15.2 billion below fiscal year 2015 exports, according to the “Outlook for U.S. Agricultural Trade,” available here from USDA’s Economic Research Service and the Foreign Agricultural Service. U.S. agricultural imports are forecast at a record $114.8 billion, down $3.7 billion from February. The U.S. agricultural trade surplus is forecast at $9.7 billion, down from $25.7 billion in fiscal year 2015.
Poultry, livestock, and dairy exports are reduced $300 million from February to $25.4 billion as lower dairy, poultry products, and beef exports are not offet by gains in other livestock products. Poultry exports are lowered $200 million to $4.6 million. Broiler meat, turkey meat, and egg and egg product exports have experienced a slow recovery following the 2015 highly pathogenic avian influenza outbreak, the report said.
Beef exports are reduced by $200 million to $5.2 billion on lower unit values. Pork exports are boosted $100 million to $4.4 billion on higher quantities and unit values.
