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Saturday, September 23, 2023

Pork exports see broad-based development, beef exports development decrease


April exports of U.S. pork achieved beneficial properties in a variety of markets, in response to information launched by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports, alternatively, have been beneath the very giant totals posted a 12 months in the past, however export worth per head of fed slaughter was the very best in eight months.

Propelled by one other month of widespread development, April pork exports totaled 243,789 metric tons (mt), up 15% from a 12 months in the past, whereas worth elevated 10% to $660.1 million. April exports to South Korea have been the biggest in almost 4 years, whereas exports additionally trended larger to main market Mexico and to the ASEAN, the Dominican Republic, Australia, Taiwan and China/Hong Kong. Export worth per head slaughtered ($67.56) was the very best since Might 2021.

For January by means of April, pork exports climbed 14% to 960,480 mt, valued at $2.62 billion (up 13%).

“Worldwide demand continues to be a constructive for your entire pork provide chain,” mentioned USMEF President and CEO Dan Halstrom. “Whereas Mexico stays a star performer for U.S. pork, it’s actually encouraging to see development in lots of markets. Latin American demand has remained sturdy whereas the momentum for U.S. pork into the Asia Pacific area has additionally been rising. That is important for maximizing carcass worth and producing income for an trade that’s going through troublesome financial situations.”

In the meantime, April beef exports have been 10% beneath final 12 months at 111,416 mt, whereas worth fell 18% to $859.5 million. Nonetheless, the share of manufacturing exported was regular with final 12 months and export worth per head of fed slaughter ($441.70) was the very best since July.

Beef exports continued to realize momentum in Mexico in April, whereas exports additionally elevated to South Korea, Europe and Africa. Exports to China/Hong Kong have been comparatively sturdy in April however shipments to Japan have been down considerably.

By the primary 4 months of 2023, beef exports have been down 8% in quantity (437,910 mt) and have been 21% decrease in worth ($3.21 billion) in comparison with final 12 months’s document tempo.

“With U.S. beef provides tightening, it’s troublesome to maintain tempo with the exceptional export totals posted within the first half of 2022, however exports proceed to account for the same share of manufacturing as final 12 months’s document,” Halstrom mentioned. “The rebound in journey and tourism – which is now gaining momentum in Asia – and associated foodservice alternatives proceed to help beef demand. In some international locations now we have additionally seen a latest easing of the inflationary stress on shoppers’ discretionary earnings.”

Halstrom added that for each beef and pork exports, it’s crucial that West Coast port terminal operators attain a contract settlement with longshoremen.

“Whereas there was no formal strike or lockout, sporadic work stoppages on the West Coast are a serious concern for exporters and their worldwide prospects,” Halstrom mentioned. “That is very true for corporations transport chilled beef or pork to Asia. For that enterprise, reliability and timeliness are paramount.”

An in depth abstract of the January-April export outcomes for U.S. beef, pork and lamb, together with market-specific highlights, is obtainable from the USMEF web site.



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