Exports Expected to Reach $62 Billion

August 27, 2004 -- The U.S. Department of Agriculture?s final forecast for fiscal year 2004 indicates sales are expected to reach $62 billion, $5.8 billion more than last year. This represents the highest sales ever, eclipsing the old record of $59.8 billion set in fiscal year 1996. This forecast is up $500 million from May?s estimate largely due to stronger-than-expected cotton, beef and pork exports.

Canada remains the No. 1 market for U.S. agricultural products with exports estimated at $9.6 billion, followed by Japan at $8.9 billion and Mexico at $8.6 billion.

USDA also released its initial forecast for fiscal year 2005, placing exports for next year at $57.5 billion.

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