Skip to main content

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

Popular posts from this blog

U.S. Pork, Beef Exports Surge in March

The pace of U.S. beef and pork exports increased sharply in March, driven by double-digit increases to leading markets Mexico, the China/Hong Kong region and South Korea, according to statistics released by the USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. pork exports reached their highest monthly total since October 2012: 209,704 metric tons (mt) valued at $606.7 million, increasing 29 percent in both volume and value over March 2013. Exports of U.S. beef rose 12 percent in volume to 93,380 mt valued at $516.2 million, an increase of 17 percent. When measured in proportion to overall U.S. beef and pork production, March exports also showed gains. Total pork exports (muscle cuts plus variety meat) equated to 31.5 percent of total U.S. pork production in March (26 percent of muscle cuts alone) versus 28 and 23.5 percent, respectively, a year ago. Beef exports accounted for 14 percent of total production and 11 percent of muscle cuts – up from 12 and 9 perce...
Read more

Cattle Market Falls Back

After a couple weeks of higher holiday trade, fed cattle prices settled back last week. The 5-Area slaughter steer price averaged $105.46/cwt on a live weight basis, $0.82/cwt lower than the previous week. Dressed prices were down about $1/cwt as well. Choice boxed beef gained nearly $4/cwt last week to average $165.81/cwt. Feeder cattle volume picked up significantly in the first full week of the year. While price comparisons to the previous week weren’t available in several markets, generally higher prices were noted. The price for yearlings in Nebraska averaged almost $3/cwt higher, while 500-600 lb calves were more than $10/cwt higher. Through Thursday of last week, corn prices were $0.14/bu lower, basis Omaha, NE. Prices for DDGS and WDGS were up another $2-4/ton last week in Nebraska. Source: Darrell R. Mark, Department of Agricultural Economics, University of Nebraska–Lincoln Farm Supply Beef Animal Husbandry Books Farm Magazines Beef Cattle: Keeping a Small-Scale Herd fo...
Read more

Cotton Market Declines

As cotton and cotton-related products are discretionary items, COVID-19 has significantly impacted demand for cotton. The greatest decline in consumption has been observed in China and India. Retail sales in clothing and clothing accessories in the U.S. experienced an  87% decline in April  from the previous year. With the anticipation of a decline in consumers’ consumption of apparel, the recovery of the spinning industry is anticipated to be slow. Slightly lower production, reduced consumption and higher beginning and ending stocks are projected for the 2020 cotton crop globally. World cotton production in 2020 is forecast at 118.7 million bales, 3% (4.2 million bales) below the previous year. Global cotton mill use is forecast at 114.4 million bales in 2020, 11.5% (12 million bales) above 2019, but still significantly lower than 2017 and 2018 levels. The world ending stocks are also projected at 104.7 million bales, the second-highest level on record. U.S. cotton pro...
Read more