September 14, 2010

US beef exports soar 40% in July

July values for US beef and pork exports dipped slightly from the totals achieved in June, but both exceeded year-ago levels with beef posting close to a 40% jump over 2009 levels.

Based on statistics released by USDA and compiled by the US Meat Export Federation (USMEF), beef export value surged to US$366.3 million in July, pushing the cumulative January-July value to more than US$2.19 billion - 25% higher than last year's pace. At the same time, pork export value in July was 4% higher than last year at US$385.8 million, pushing the 2010 cumulative January-July total to US$2.74 billion.

As Mexico begins to show signs of an economic recovery, the US beef is well-positioned to capitalise as the dominant provider in that market, said USMEF President and CEO Philip Seng.

As for US pork, the federation is certainly pleased with the rebound in demand, Seng said, adding that this is, however, not the time for the US industry to let its guard down in Japan because it is the highest-value pork market that delivers tremendous returns for US producers.