Worldwide | First Five Months’ Beef Statistics ShowVolume Increase, Value D...
Worldwide
First Five Months’ Beef Statistics Show
Volume Increase, Value Drop
Exports of U.S. beef muscle cuts for January-May, 2002 were six percent higher in volume (328,854 metric tons (mt)) but seven percent lower in value ($1.016 million) compared to the same period in 2001. A 30 percent decline in the volume of exports to Japan was offset by significant increases to South Korea (up 103 percent to 86,289 mt), Mexico (up 11 percent to 79,799 mt), Canada (up 6 percent to 34,176 mt), China/Hong Kong (up 69 percent to 7,983 mt) and Taiwan (up 39 percent to 6,524 mt).
The value of exports has declined because of a weak dollar, low U.S. prices and the decline in sales to Japan has meant lower-priced sales to other markets such as Korea.
Exports of U.S. beef variety meats fell 16 percent compared to last January-May to 172,991 mt. The Japanese market fell 50 percent to 39,116 mt and this hit the export statistics hard since Japan is the major market for U.S. beef tongues and intestines, items which don’t sell so well elsewhere. Beef variety meat exports increased to the other top markets, Mexico, Russia, the Middle East, South Korea and China.