US - The latest trade data confirmed what we already suspected, export volumes in September were sharply lower, leaving more product to be absorbed in domestic channels and adding to the downward price pressures for beef and chicken, write Steve Meyer and Len Steiner. There are a number of factors that have negatively impacted US exports but we think the primary drivers are: a) the strong US dollar; b) bird flu restrictions; c) weaker demand in emerging markets due to slow or even negative growth; d) increased competition from other supplying countries as well as overall expansion in global supplies due to lower input costs.
美国——最新的贸易数据证实了我们的怀疑，9月出口量大幅降低，让更多的产品被国内渠道吸收，增加牛肉和鸡肉价格下行压力,史蒂夫·迈耶和莱恩·施泰纳写道。有很多因素影响美国出口,但我们认为主要驱动因素是:a)强劲的美元;b)禽流感限制;c)新兴市场需求疲软将减缓甚至负增长;d) 其他供应国家的竞争力增加，在全球供应总体扩张的情况下其他国家的投入成本较低。
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