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December 22, 2017

 

US pork, beef exports post stellar performance in October

 

 

US pork exports in October were the largest since May, while beef exports are poised to break $7 billion this year for only the second time, according to the latest export figures released by the US Department of Agriculture as compiled by the US Meat Export Federation (USMEF).

 

Pork exports in the 10th month totalled 211,592 tonnes, up 5% from 2016, valued at $565.4 million, up 8%. Through the first 10 months, pork exports increased 8% in volume (2.005 million tonnes) and 10% in value ($5.28 billion) from the same period last year.

 

Beef exports reached 111,287 tonnes in October, up 5% from a year ago, valued at $662 million, up 18%. These were the second-largest monthly totals of 2017, trailing only August.

 

In the 10 months through October, pork exports increased 8% in volume (2.005 million tonnes) and 10% in value ($5.28 billion) from the same period last year.

 

Exports accounted for 25.4% of total pork production in October (steady with last year). For January through October, these ratios increased about one percentage point from a year ago to 26.4% of total production.

 

Jan.-October beef exports

 

For January through October, beef exports totalled 1.038 million tonnes, up 9% year-on-year, valued at $5.93 billion, up 16% from a year ago and slightly ahead of the record value pace established in 2014.

 

Beef exports accounted for 13% of total production in October, the highest since July but down from 13.9% last year. For January through October, beef exports accounted for 12.8% of total production (down from 13.3% last year).

 

Japan continued to be the pacesetter for US beef exports in October, with volume climbing 19% from a year ago to 23,981 tonnes and value up 23% to $147.1 million. This pushed January-October volume to 260,517 tonnes (up 22%) valued at $1.59 billion, up 29% and already setting a new single-year record.

 

"The US beef industry has really broadened its reach in Japan, expanding the range of cuts offered and the retail and foodservice venues in which they are featured," USMEF President and CEO Dan Halstrom said.

 

"But USMEF remains concerned about market access barriers in Japan, as we face significantly higher tariffs than our main competitor, Australia, and import safeguards that could hinder further growth", he added.

 

Lamb exports

 

October exports of US lamb were 560 tonnes, down 7% from a year ago, and value slipped 6% to $1.32 million.

 

For the first 10 months, exports declined 14% in volume (6,139 tonnes) but increased 8% in value to just under $16 million. 

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