October 18, 2007

 

Value of US beef exports up 28 percent in August, pork up 6 percent

 

 

Exports of US red meat continued to increase in value through August with US pork up 6 percent to US$1.96 billion and US beef up 28 percent to US$1.67 billion compared to the same period last year, according to the latest statistics compiled by the US Meat Export Federation (USMEF) and provided by USDA.

 

US beef and beef variety meat exports worldwide also were up 16 percent in volume to 495,829 tonnes, with notable gains in Central and South America as export volume increased 68 percent to 5,986 tonnes and value 64 percent to US$10.9 million.

 

This growth was driven by liver exports to Peru and frozen beef exports to Guatemala, where USMEF has used a long-term strategy, funded by the beef checkoff, to increase price competitiveness of US beef products by introducing value cuts developed from the chuck and the round.

 

Larger markets such as Canada also showed gains with a 31 percent increase in volume to 81,380 tonnes and a 34 percent jump in value to US$372.1 million.

 

Mexico remained the top market for US beef and beef variety meat exports with a volume of 235,471 tonnes valued at US$781.5 million.

 

USMEF expects beef prices to remain strong domestically through the rest of the year due to relatively tight cattle supplies. US beef products will remain a good value internationally due to the weakness of the US dollar.

 

US pork and pork variety meat exports worldwide reached 804,261 tonnes in August. Japan continued as the top market, with volume increasing 8 percent to 238,803 tonnes and value 13 percent to US$766.9 million, more than double of the second-largest market, Mexico.

 

Lower volumes in Mexico and South Korea were offset by increases in other markets like Hong Kong/China, up 61 percent to 88,103 tonnes and 68 percent in value to US$125.7 million, and Australia, up 40 percent to 22,170 tonnes and 64 percent in value to US$59.8 million.

 

US pork and pork variety meat exports increased to Guatemala, where USMEF recently conducted a long-range campaign to reverse consumer perceptions that pork was unsafe to eat.

 

Export volume through August increased 29 percent to 3,935 tonnes and 27 percent in value to US$7.8 million compared to the same time period last year. Pork and pork variety meat exports to the Central and South America region also increased, 22 percent in volume to 20,865 tonnes and 21 percent in value to $44.9 million.

 

USMEF expects pork exports to increase in the fourth quarter as lower pork prices and the weak US dollar make US pork competitive in international markets.