MLA is reporting today that beef exports to the US in 2007-08 fell 21pc to only 240,000 tonnes, the lowest for 10 years.

It says this reflected the low US dollar, sluggish consumer demand and better prices in other markets.

Similarly, the ongoing threat of a US return, a higher Aussie dollar and fall in grainfed product availability saw a 9pc fall in shipments to Japan (365,310t) and 7pc decline to Korea (146,000t).

In contrast, demand was buoyant across a range of secondary markets, led by Russia.

Exports to the Commonwealth of Independent States (almost all to Russia) hit a record 45,584t, up from only 8000t the previous year, MLA says.

This was due to growing demand, falling local and EU supplies and a sharp easing in competition from Brazil and Argentina.

These factors also explain an 80pc jump in exports to our main South East Asian destinations of Indonesia, Singapore and the Philippines (47,517t), a 63pc rise to China and Hong Kong (5136t) and 28pc rise to the EU (9265t).

In the month of June, beef and veal exports fell 13pc from the record quantity sent in May, due principally to lower beef supplies.

At 81,861t, MLA says exports were still 8pc higher than June 2007 and 1pc above the five-year average.