US beef exports grow in momentum in October

In October, US beef exports hit their highest monthly volume for the entire year.

Latest USDA statistics showed that despite being below year-ago levels, October beef exports reflect a 12% increase in volume and 5% in value over September, and exceed the 2009 monthly average by 11% in volume and 7.5% in value.

Beef exports during January to October reached 743,085 tonnes valued at US$2.56 billion, which were behind last year's pace by 12% and 18%, respectively.

This has been a tough year globally for the beef industry due to the poor economic conditions, said Philip Seng, president and CEO of USMEF.

He said the USMEF has limited the declines of US beef exports by focusing on markets and niches within markets that showed potential for near-term growth, such as the convenience store niche in Japan.

USMEF said record US beef exports to the Middle East is one of the most positive drivers in October, totalling 10,608 tonnes valued at US$14.9 million. Exports to the Middle East through the first 10 months of 2009 more than doubled in volume compared to 2008.

Egypt, which has long been a stellar market for beef variety meat, has imported nearly 30 times its 2008 volume of US beef muscle cuts.

Japan continues to outpace 2008 totals by a significant margin. October exports were up 24% in volume and 26% in value over October 2008. January-October exports to Japan totalled 78,823 tonnes valued at US$404.9 million, an increase of 22% in both volume and value.

South Korea's imports of US beef reached their highest monthly volume since February's 5,695 tonnes valued at US$20.9 million. While down from October of last year, these results are more than double the September volume and are 90% above the September value.