Beef exports took a step back in July, posting the lowest volume since January, but export value per head of fed slaughter again exceeded $400, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
July beef exports totaled 103,167 metric tons(mt), down 18% from a year ago and the lowest in six months. Export value was $810.4 million, down 19% and the lowest since February. Exports posted year-over-year gains in July to Mexico, Taiwan, Canada, Hong Kong and Africa and increased sharply to Peru and Honduras. But July exports to the top three destinations for U.S. beef—South Korea, Japan and China – were well below last year’s large totals.
For January through July, beef exports trailed last year’s record pace by 11% in volume (772,343 mt) and 19% in value ($5.81 billion).
“It’s definitely a challenging environment on the beef side, due in part to limited supplies but also persistent headwinds in our key Asian markets,” said USMEF President and CEO Dan Halstrom. “Though it’s taking longer than anticipated, we still expect a broader foodservice rebound in Asia. And some bright spots for U.S. beef include sustained demand in Taiwan, especially for alternative beef cuts, and the continued momentum in Mexico. It’s also encouraging to see per-head export value maintaining a high level. This is an important metric for gauging the returns delivered by the international markets, even when our production is trending lower.”
Lamb export volume rebounds
Following a slow second quarter, July exports of U.S. lamb muscle cuts showed signs of a rebound. July export volume was 197 mt, up 22% from a year ago and the highest since March. Export value was $928,000, down 2% year-over-year but the highest since April. For January through July, lamb exports were 1% below last year’s pace at 1,264 mt, while value fell 6% to $7.3 million. Markets trending higher included Mexico, Canada, the Netherlands Antilles, Panama and Guatemala.
A detailed summary of the January-July export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website, usmef.org. — USMEF
