Saturday, September 9, 2017

U.S. Beef Exports Strong in July; Pork Exports Lower


U.S. beef exports remained well above last year’s pace in July, posting one of the highest monthly export value totals on record, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF). July pork export volume dipped below its year-ago level for the first time in 15 months, with export value also down slightly.

July beef exports totaled 104,488 metric tons (mt), up 5 percent year-over-year, while export value reached $623.7 million – up 18 percent from a year ago and the highest since December 2014. For January through July, exports increased 11 percent in volume (711,364 mt) and 15 percent in value ($3.97 billion) compared to the first seven months of last year.

Exports accounted for 13.2 percent of total U.S. beef production in July and 10.7 percent for muscle cuts only. These were the highest ratios of 2017, but down from 14.2 percent and 11 percent, respectively, last July. For January through July, beef exports accounted for 12.8 percent of total production and 10 percent for muscle cuts – roughly steady with last year. Export value per head of fed slaughter averaged $299.21 in July, up more than $35 (or 13 percent) from a year ago. Through July, per-head export value was up 9 percent to $273.52.

Pork exports totaled 173,675 mt in July, down 4 percent year-over-year, valued at $488.9 million, down 0.6 percent. January-July volume was still up 11 percent from a year ago to 1.43 million mt, while export value was up 13 percent to $3.7 billion.

Exports accounted for 26 percent of total pork production in July (down from 27.5 percent a year ago) and 21 percent for muscle cuts only (down from 23 percent). For the first seven months of the year, with U.S. production at a record pace, the percentage of total production exported increased from 25.6 percent to 27.5 percent. For muscle cuts only, the increase was from 21.6 percent to 23 percent. Export value per head slaughtered in July was $54.22 – up slightly from June but 3 percent below last July. The January-July per-head average increased 10 percent from a year ago to $54.11.

Source: U.S. Meat Export Federation

Artwork: Prime Rib Roast
Beef
Pork
Meat

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