February 13, 2013

US pork, beef exports hit record high in 2012

Despite a decrease in shipments as the year came to a close, the US exported a record-large volume of pork in 2012 while the value of both pork and beef exports was the most ever.

Pork exports totalled 2.26 million tonnes, up narrowly from 2011, with the value of those sales up 4% at US$6.3 billion, both records, according to the US Meat Export Federation, which compiles USDA data that was issued on Monday (Feb 11).

Beef export volume declined 12% to 1.13 million tonnes. But the value of the sales jumped 2% to a record US$5.51 billion in a year that saw all-time highs in Chicago Mercantile Exchange live cattle futures.

Growing global demand for meat propelled export volumes, while record animal feed prices amid the worst US drought in five decades forced up meat values, analysts said.