Market Watch

September exports of U.S. beef were steady with last year in volume but export value trended lower, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports were above year-ago levels in September but pulled back from the large totals posted in June, July and August. September beef exports totaled 109,799 metric tons (mt), essentially even with last year, valued at $661.3 million (down 4%). Through the first three quarters of the year, beef exports were 2% below last year's record pace in both volume (991,325 mt) and value ($6.1 billion). Beef export value per head of fed slaughter averaged $318.54 in September, up significantly from the previous month but still 5% below last year. The January-September average was down 3% to $310.77. September exports accounted for 14.6% of total U.S. beef production and 11.9% for muscle cuts only, down from 14.8% and 12.4%, respectively, last year. Through the first three quarters of the year