Friday, July 7, 2017

Red Meat Exports Continue Strong

U.S. pork and beef exports posted a strong May performance, increasing significantly from the previous month and from year-ago levels, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Pork exports reached 222,015 metric tons (mt) in May, up 11 percent year-over-year and the fourth-largest monthly volume on record. Pork export value was $583.2 million, up 16 percent. For January through May, exports increased 14 percent from a year ago in volume (1.05 million mt, a record pace) and 18 percent in value ($2.68 billion).

Even with the growth in U.S. pork production, exports account for a larger share in 2017. May exports equated to 29.4 percent of total production and just under 25 percent for muscle cuts only – up from 28.4 percent and 24.3 percent, respectively, last year. Through the first five months of 2017, exports accounted for 27.9 percent of total production and 23.2 percent for muscle cuts (up from 25.2 percent and 21.3 percent). Exports are also commanding higher prices, indicative of strong demand across a wide range of international markets. Export value per head slaughtered averaged $58.61 in May, up 7 percent from a year ago. The January-May average was $54.23, up 14 percent.

May beef exports totaled 105,321 mt, up 6 percent from a year ago, valued at $582.6 million, up 9 percent. For January through May, beef exports were up 12 percent in volume (497,322 mt) and 16 percent in value ($2.75 billion) compared to the same period last year.

Exports accounted for 13 percent of total U.S. beef production in May and 10 percent for muscle cuts only – each down one percentage point from a year ago. Through May, these ratios were steady with last year’s pace – 12.8 percent for total production and 10 percent for muscle cuts. Export value per head of fed slaughter averaged $265.55 in May, matching the average from a year ago. Through May, per-head export value averaged $270.27, up 8 percent. Beef export prices are also increasing, especially in key Asian markets, with double-digit increases in Japan and Korea in May illustrating the strong demand for U.S. beef.

Source: U.S. Meat Export Federation

Artwork: red meat with a knife
Beef
Pork
Meat

Thursday, January 12, 2017

November Pork Exports Set New Record

U.S. red meat exports continued to build momentum in November, highlighted by a new monthly volume record for pork exports. Both pork and beef exports exceeded year-ago levels by more than 20 percent in both volume and value, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

November pork exports totaled 225,757 metric tons (mt), up 24 percent year-over-year and breaking the previous record (218,132 mt) set in October 2012. Export value was $586.8 million, up 30 percent from a year ago and the highest since May 2014. For January through November, pork export volume was up 7 percent from a year ago to 2.09 million mt, while export value increased 5 percent to $5.38 billion.

Even with U.S. pork production reaching record levels, exports are accounting for a larger share. November export volume equated to 28 percent of total production and 23 percent for muscle cuts only – substantial increases over the November 2015 ratios of 24 percent and 21 percent. For January through November, exports accounted for 25.5 percent of total production and 21.4 percent for muscle cuts – up from 24.2 percent and 20.9 percent, respectively, in 2015. November export value averaged $55.09 per head slaughtered, up 19 percent year-over-year. The January-November average was $49.63 per head, up 2 percent.

November was also a very strong month for beef exports, which totaled 155,335 mt – up 20 percent year-over-year and the largest since July 2013. Export value increased 21 percent to $619.1 million, the highest since December 2014. This pushed January-November export volume to 1.07 million mt (up 10 percent year-over-year) valued at $5.72 billion (down 1 percent).

November exports accounted for nearly 15 percent of total beef production and 11.7 percent for muscle cuts only – the highest levels since 2014. January-November exports accounted for 13.5 percent and 10.3 percent, respectively – up from 13 percent and 10 percent during the same period in 2015. Beef export value per head of fed slaughter reached a 2016 high of $294.39 in November, up 5 percent from a year ago. For January through November, per-head export value averaged $258.48, down 7 percent.

Source: U.S. Meat Export Federation

Artwork: Smoked Pork Butts from Brooklyn, New York
Beef
Pork
Meat

Monday, August 8, 2016

U.S. Pork, Beef Exports Ahead of Last Year

U.S. red meat exports ended the first half of 2016 on a positive note, as June export values for both pork and beef were the highest of the year. June also marked the second consecutive month of solid year-over-year volume growth, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Pork exports reached 187,939 metric tons (mt) in June, up 8 percent from a year ago, while export value increased 11 percent to $505.4 million. For the first half of the year, pork export volume was up 2 percent to 1.1 million mt, but value was down 4 percent to $2.77 billion.

Exports accounted for 26 percent of total pork production in June and 22 percent for muscle cuts only – each up one percentage point from a year ago. For January through June, these ratios were 25 percent and 21 percent, respectively, up slightly from last year. Export value per head slaughtered was $52.83 in June – up 10 percent from a year ago. First-half per-head value was $48.34, down 5 percent.

June beef export volume increased 2 percent from a year ago to 98,920 mt, while export value was $545.4 million, down 5 percent. First-half export volume was up 3 percent to 541,547 mt, while value fell 10 percent to $2.91 billion.

Exports accounted for 13 percent of total beef production in June and 10 percent for muscle cuts only – each down about 1 percentage point from a year ago. For January through June, these ratios were also 13 percent and 10 percent, respectively, steady with last year. Export value per head of fed slaughter was $250 in June and $249.67 for the first half – each down 14 percent from a year ago.

June pork exports to China/Hong Kong remained well ahead of last year’s pace, increasing 84 percent in volume (50,374 mt) and 73 percent in value ($98.8 million). But June volume was the lowest since February, reflecting some cooling of the market. Exports to China/Hong Kong finished the first half 80 percent higher than a year ago in volume (284,900 mt) and 63 percent higher in value ($540.5 million).

Source: U.S. Meat Export Federation

Artwork: Meat with Red Tomato and Green Leaf
Beef
Pork
Meat

Sunday, May 8, 2016

U.S. Red Meat Exports Move Higher in March

March exports of both U.S. beef and pork increased year-over-year in volume, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF). March export values were lower than a year ago but trended upward, with both reaching a 2016 high.

Beef exports totaled 89,482 metric tons (mt) in March, up 3 percent from a year ago and pushing first-quarter volume to 254,986 mt – up 2 percent. March export value was $483.3 million, down 8 percent from a year ago but the highest since December. For the first quarter, export value was $1.36 billion – down 13 percent from the same period last year.

While lower beef prices pushed export values below year-ago levels in most destinations, Korea and Taiwan stood out as top performers. For the first quarter, exports to Korea increased 25 percent from a year ago in volume (34,638 mt) and were steady in value at $205 million. Exports to Taiwan increased 20 percent to 7,634 mt, while value climbed 3 percent to $66.4 million. These markets continue to show strong demand for high-quality chilled U.S. beef cuts in both the retail and foodservice sectors. Beef variety meat exports to Korea have also performed exceptionally well in 2016, with first-quarter exports more than doubling in volume (3,954 mt, +133 percent) and increasing 84 percent in value ($17.6 million).

First-quarter beef export volume to Japan improved 9 percent from a year ago to 52,841 mt, while value fell 7 percent to $300.4 million. Led by strong demand for U.S. beef tongues, beef variety meat exports to Japan were very strong in the first quarter, increasing 21 percent from a year ago in volume (9,877 mt) and 22 percent in value ($70.4 million).

Beef exports to the Middle East increased 13 percent in the first quarter to 27,641 mt, though value fell 11 percent to $60.3 million. Variety meat exports to Egypt increased 47 percent year-over-year in March, pushing the first-quarter total to 24,543 mt (+14 percent). The United Arab Emirates (UAE) is the leading market in the region for beef muscle cuts, with first-quarter exports increasing 8 percent year-over-year to 1,507 mt. Export value to the UAE fell 2 percent to $17.3 million.

Weakness of the Mexican peso and Canadian dollar continues to be a significant obstacle for U.S. beef. First-quarter exports to Canada declined 9 percent from a year ago in volume (26,246 mt) and 21 percent in value ($160.7 million). First-quarter exports to Mexico were down 14 percent (48,916 mt) and 23 percent ($219.4 million), respectively, though beef muscle cut exports to Mexico rebounded to some degree in March at 9,103 mt – the highest volume since December.

Source: U.S. Meat Export Federation

work: a piece of red meat with a knife
Beef
Farm Supply
Meat

Sunday, November 8, 2015

Pork Exports Up, Beef Down

U.S. pork exports showed modest improvement in September while beef exports endured the most difficult month in some time, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

September pork export volume was up 6 percent from a year ago to 172,012 metric tons (mt). Export value was $456.1 million, down 11 percent year-over-year but the highest since May. Pork exports through the first nine months of the year declined 4 percent in volume (1.58 million mt) and 17 percent in value ($4.21 billion) compared to January-September 2014.

Beef export volume fell 21 percent from a year ago in September to 79,474 metric tons (mt) and value was down 28 percent to $456.6 million – the lowest since January. For the first nine months of 2015, exports were down 12 percent in volume (782,705 mt) and 8 percent in value ($4.8 billion).

Exports to Mexico, the leading volume destination for U.S. pork, fell slightly in volume in September but climbed 5 percent through the first nine months of the year to 529,798 mt, while export value fell 20 percent to $932.6 million.

September exports to Canada were the largest of 2015, though January-September volume was still down 5 percent to 148,669 mt and value was 13 percent lower at $589.9 million.

Japan remains the leading value market for U.S. pork, despite January-September value declining 18 percent year-over-year to $1.23 billion. Export volume to Japan was down 12 percent to 314,760 mt.

Beef export value in September equated to $233.80 per head of fed slaughter – down nearly $80 from a year ago. For January through September, per-head value was $280.46 – down $6.36 from the same period last year. Exports equated to 13 percent of total beef production and 10 percent for muscle cuts only – both down 1 percentage point from the first nine months of last year.

September exports to leading market Japan fell 34 percent in volume (15,386 mt) and 36 percent in value ($99.7 million) from a year ago. For the first nine months of the year, exports to Japan were down 12 percent in volume (161,961 mt) and 14 percent in value (just over $1 billion).

For January through September, U.S. lamb exports fell 17 percent in volume to 6,714 mt year-over-year and were down 32 percent in value to $14.3 million. Exports expanded to the Middle East — up 49 percent in volume to 271 mt and 2 percent in value to $874,000 — but declined to Mexico, Canada and the Caribbean.

Source: U.S. Meat Export Federation

Artwork: Pork Cuts Poster
Farm Magazines
Pork
Beef

Thursday, July 23, 2015

Vermont Beef Prices Posting Monthly


In an effort to ramp up local and regional food efforts, USDA Market News of the Agricultural Marketing Service is now issuing a local beef report for the state of Vermont each month.

Two Market News reporters recently ventured to the Green Mountain State to meet with existing customers and recruit new ones.  Trekking all throughout the state, they visited a total of 10 farms, talked to numerous people about grass-fed beef, and learned about how Market News can better serve this sector of the industry.

USDA Market News reporters gather price and volume data from a number of small producers throughout the state, publishing these locally-raised beef prices and offering general commentary about the market in monthly Market News reports.
Being the first of its kind, this report is pioneering the way beef is marketed. It provides local price information for farmers, increases transparency in the marketplace, and enables institutions – such as banks and insurance companies – to properly assess the value of a small or mid-sized farm, which sells its commodities locally.

Follow the link to the Vermont Monthly Local Beef Report on the Market Watch page.

Source:  USDA Blog

Artwork: Newton Abbott Livestock Market
Farm Magazines
Market Watch
Beef
Farm Supply

Monday, February 9, 2015

Beef, Pork Exports Reach Record Value

Export value for both U.S. beef and pork reached new heights in 2014, posting double-digit gains over the previous year’s totals, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Beef export value was $7.13 billion – an increase of 16 percent (and nearly $1 billion) over the previous record set in 2013. Export volume was just under 1.2 million metric tons (mt) – which was short of the 2011 record, but up 2 percent year-over-year.

Pork export value totaled $6.67 billion, an increase of 10 percent year-over-year, breaking the 2012 record by 6 percent. Pork export volume increased 2 percent to 2.18 million mt. The volume record is 2.62 million mt, set in 2012.

Exports overcame significant challenges to reach these milestones, including market access restrictions in Russia and China, an appreciating U.S. dollar and, most recently, shipping difficulties related to a labor dispute in the West Coast ports.

In December, beef export volume slipped 2 percent year-over-year to 100,270 mt, though value still increased 17 percent to $643.2 million. December pork export volume was down 5 percent to 183,498 mt, but value still achieved a slight increase to $541.3 million.

Source:  U.S. Meat Export Federation (www.USMEF.org)

Artwork: Pork Cuts Poster
Farm Magazines
Pork
Farm Supply