Low currency value and international recognition of poroduct quality has seen the United States recapture its position as the world's leading beef exporter, out-pacing Australia and Brazil for the first time in a decade.

If the trend established in the first six months of the year holds up, US beef exports are likely to set several new records in 2011 and exceed the US$5 billion mark for the first time.

According to statistics released by US Department of Agriculture and compiled by the US Meat Export Federation, June beef exports achieved the second-highest value ever at US$461.8 million. That was 23 percent higher than June 2010, and has been surpassed only once – by the March 2011 value total of US$475.2m.

As highlighted on ABC Landline on Sunday, in terms of volume, June beef exports reached 111,362t, an increase of 15pc over June 2010. This brought the cumulative 2011 US export total to 620,851t valued at $2.55b, 25pc higher in volume and 40pc higher in value than last year's pace.

North American markets lead US beef exports but Asia remains very strong, US sources said last week. Mexico and Canada firmly established their positions as the number one and two markets for US beef. June exports to Japan reached their highest monthly volume since 2003 and exports to South Korea and Hong Kong were also well up on last year.

To June, US beef exports to Central and South America were 51pc higher in volume than last year and 71c higher in value, led by strong growth in Chile, Peru, Colombia and Guatemala. Beef exports to the Middle East also continued to post strong growth.