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
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