U.S. Pork Sets Another Export Record – Beef Exports Highest Since 2003

Published: Jul 14, 2008

Export sales continue to provide welcome news for the U.S. beef and pork industries, with May pork sales setting yet another monthly record while beef exports reached their highest levels since December of 2003.

“The shortage in the global meat supply, combined with record pork production in the United States and the continued weak dollar are putting U.S. beef and pork in a very advantageous position in many export markets,” said Erin Daley, manager of research and analysis for the U.S. Meat Export Federation (USMEF).

Daley noted that China/Hong Kong has emerged as a key market for U.S. pork since the fourth quarter of last year since that country’s pork production has declined.

“It’s not so much that consumption is up,” said Daley. “Rather, production is down, and U.S. pork remains undervalued.” Russia is the exception, however, where pork production is up, but not enough to keep pace with rising consumption.

Pork export details

The new monthly record for pork (including variety meat exports) was set at 196,118 metric tons or 432.4 million pounds (valued at nearly $452 million) in May. Export volume was up 95 percent compared to May 2007 and 12 percent more than the April 2008 record. This put January-May pork (including variety meat) exports at 825,800 metric tons (1.8 billion pounds) valued at $1.86 billion, up 60 percent and 51 percent respectively from the same period last year.

China/Hong Kong was the largest destination for U.S. pork exports in May, with exports totaling 55,293 metric tons or 121.9 million pounds (a new record for the region surpassing 42,331 metric tons [93.3 million pounds] in April) valued at $99.4 million, up from just 10,706 metric tons (23.6 million pounds) valued at $15.7 million in May last year. For January-May, exports to China/Hong Kong totaled 200,093 metric tons (441.1 million pounds) valued at $343 million, up 336 percent and 410 percent, respectively. January-May exports to China/Hong Kong surpassed annual exports for the whole of 2007.

Exports to Japan exceeded 40,000 metric tons (88.2 million pounds) again in May after setting a record in March (40,853 metric tons) and were valued at $132 million. For January-May, exports totaled 184,962 metric tons (407.7 million pounds) valued at $592 million, up 19 percent and 22 percent respectively — still the largest market in value terms.

Other key U.S. pork export markets in May included:

Mexico rebounded in May to 29,034 metric tons (64 million pounds) to put the January-May total at 132,716 metric tons (292.6 million pounds) valued at $213 million, up 16 percent and 18 percent respectively, but January-May exports remain 15 percent below the record levels of 2006.
Russia nearly kept the pace of the record level set during April, with May volumes at 18,122 metric tons (39.5 million pounds), up 124 percent from May 2007. For January-May, exports totaled 76,456 metric tons (168.5 million pounds) valued at $158.9 million, up 137 percent and 142 percent, respectively, over last year.
The ASEAN (Association of Southeast Asian Nations) also set a new record in May at 7,323 metric tons (16.1 million pounds), mainly to the Philippines and Vietnam. The January-May total was 22,752 metric tons (50.1 million pounds) valued at more than $40 million, up 363 percent and 335 percent respectively. The Philippines took 12,149 metric tons (26.8 million pounds), Vietnam 6,505 metric tons (14.3 million pounds) and 3,892 metric tons (8.6 million pounds) went to Singapore.

Complete U.S. pork export statistics are on www.USMEF.org.

Beef at highest level since pre-BSE

Beef (including variety meat) exports in May of 83,761 metric tons (184.6 million pounds) were the largest since December 2003, and reached 78 percent of the May 2003 export volume and 97 percent of its value at nearly $309 million. The January-May volume of 355,982 metric tons (784.8 million pounds)) is 29 percent higher and the value ($1.25 billion) is 39 percent higher than the same period last year.

For January-May 2008, U.S. beef (including variety meat) exports to Mexico were up 17 percent in volume to 163,271 metric tons (359.9 million pounds) and 18 percent in value to $552.7 million, up 18 percent.

Other key U.S. beef export markets January-May included:

Canada climbed 52 percent to 63,189 metric tons (139.3 million pounds) and 54 percent in value to $289.2 million.
Middle East imports of U.S. beef (including variety meat) were down 7 percent, but the region was still the third-largest market by volume — 36,362 metric tons (80.2 million pounds) — and the value rose 31 percent to $55.2 million.
Japan was up 58 percent to 24,193 metric tons (53.3 million pounds) and 53 percent in value to $125.2 million.

Complete U.S. beef export statistics are on www.USMEF.org.

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The U.S. Meat Export Federation (www.USMEF.org) is the trade association responsible for developing international markets for the U.S. red meat industry and is funded by USDA, exporting companies, and the beef, pork, corn, sorghum and soybean checkoff programs.