Worldwide | U.S. Red Meat Export Value Increases Through July | U.S. red me...
Worldwide
U.S. Red Meat Export Value Increases Through July
U.S. red meat exports posted increases in value through the first seven months of this year compared to the same time last year. U.S. beef and beef variety meat exports worldwide increased 27 percent in value to $1.42 billion and 16 percent in volume to 425,394 metric tons (mt) (937.8 million pounds) while U.S. pork and pork variety meat exports were up 5 percent in value to $1.7 billion, but declined 5 percent in volume to 704,138 mt (1.55 billion pounds).
Through July, Mexico continues to be the leading market for U.S. beef and beef variety meat exports with a volume of 202,500 mt (446.3 million pounds) valued at $670.8 million. Mexico, still the second-largest destination for U.S. pork and pork variety meat, posted a 27 percent decline in volume to 154,410 mt (340.4 million pounds) and a 22 percent decline in value to $248.2 million. Export volume in July was 21,389 mt (47.1 million pounds), however, a 12 percent increase from last month.
Canada, although not an area where U.S. red meat marketing takes place, is the second-largest export market for U.S. beef and beef variety meat with volume through July, increasing 31 percent to 69,716 mt (153.7 million pounds) and up 33 percent in value to $315.6 million. The increased volume is partially attributed to a 12 percent increase in slaughter cattle imports and a 17 percent increase in feeder cattle imports. Canada ranks third for U.S. pork and pork variety meat exports with a volume of 77,228 mt (170.3 million pounds) valued at $260.1 million. The strengthening Canadian dollar along with higher feed and labor costs are other dynamics driving trade.
Moving from North America to Asia, the fourth market for U.S. beef and beef variety meat exports is Japan with a volume of 5,387 mt (11.9 million pounds), the largest volume since the market reopened in late July last year. Through July, beef export volume to Japan is 26,025 mt (57.3 million pounds) while value is $132.8 million. Japan continues to be a lucrative market for U.S. pork and pork variety meat exports as volume increased 7 percent through July to 209,591 mt (462 million pounds) and value increased13 percent to $667.8 million, almost three times the value of the next market, Mexico.
The Middle East continues to be an expanding area for U.S. beef and beef variety meat as export volume increased 15 percent to 55,658 mt (122.7 million pounds) valued at $62.1 million.
And for U.S. pork and pork variety meat exports, volume to Australia has gone up 39 percent to 20,353 mt (44.8 million pounds) through July and value has increased 47 percent to $62.8 million. The Australian pork industry continues to struggle with high feed prices and the strengthening Australian dollar. According to a recent report, Australian pork producers are losing around A$30 per pig sold.
For a complete breakdown of export statistics, visit the USMEF Statistics page.
Worldwide
U.S. Red Meat Export Value Increases Through July
U.S. red meat exports posted increases in value through the first seven months of this year compared to the same time last year. U.S. beef and beef variety meat exports worldwide increased 27 percent in value to $1.42 billion and 16 percent in volume to 425,394 metric tons (mt) (937.8 million pounds) while U.S. pork and pork variety meat exports were up 5 percent in value to $1.7 billion, but declined 5 percent in volume to 704,138 mt (1.55 billion pounds).
Through July, Mexico continues to be the leading market for U.S. beef and beef variety meat exports with a volume of 202,500 mt (446.3 million pounds) valued at $670.8 million. Mexico, still the second-largest destination for U.S. pork and pork variety meat, posted a 27 percent decline in volume to 154,410 mt (340.4 million pounds) and a 22 percent decline in value to $248.2 million. Export volume in July was 21,389 mt (47.1 million pounds), however, a 12 percent increase from last month.
Canada, although not an area where U.S. red meat marketing takes place, is the second-largest export market for U.S. beef and beef variety meat with volume through July, increasing 31 percent to 69,716 mt (153.7 million pounds) and up 33 percent in value to $315.6 million. The increased volume is partially attributed to a 12 percent increase in slaughter cattle imports and a 17 percent increase in feeder cattle imports. Canada ranks third for U.S. pork and pork variety meat exports with a volume of 77,228 mt (170.3 million pounds) valued at $260.1 million. The strengthening Canadian dollar along with higher feed and labor costs are other dynamics driving trade.
Moving from North America to Asia, the fourth market for U.S. beef and beef variety meat exports is Japan with a volume of 5,387 mt (11.9 million pounds), the largest volume since the market reopened in late July last year. Through July, beef export volume to Japan is 26,025 mt (57.3 million pounds) while value is $132.8 million. Japan continues to be a lucrative market for U.S. pork and pork variety meat exports as volume increased 7 percent through July to 209,591 mt (462 million pounds) and value increased13 percent to $667.8 million, almost three times the value of the next market, Mexico.
The Middle East continues to be an expanding area for U.S. beef and beef variety meat as export volume increased 15 percent to 55,658 mt (122.7 million pounds) valued at $62.1 million.
And for U.S. pork and pork variety meat exports, volume to Australia has gone up 39 percent to 20,353 mt (44.8 million pounds) through July and value has increased 47 percent to $62.8 million. The Australian pork industry continues to struggle with high feed prices and the strengthening Australian dollar. According to a recent report, Australian pork producers are losing around A$30 per pig sold.
For a complete breakdown of export statistics, visit the USMEF Statistics page.