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USMEF: September Pork Exports Steady, Beef Exports Lower

November 13, 2012
 
 

Source: U.S. Meat Export Federation

U.S. pork exports in September were steady with last year’s volume, while beef exports were well below a year ago. Despite sluggish volumes, however, the value of both pork and beef exports through the third quarter of 2012 remains ahead of last year’s record-setting pace, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

"We are definitely in a challenging economic environment, which is making it difficult to match last year’s export volumes," said Philip Seng, USMEF president and CEO. "But our products continue to command an excellent price in the international markets and provide substantial returns to U.S. producers, which is critically important at a time when they face extremely high production costs."

September pork exports reached 183,853 metric tons (mt), slightly exceeding last year’s total. Though export value declined 6 percent compared to last year to $505 million, it was about 2 percent higher than the August value of $495.5 million.

For January through September, pork exports were up 2 percent in volume at 1.657 million metric tons and up 6 percent in value to $4.6 billion. Exports equated to 23.6 percent of muscle cut production and 27 percent when including both muscle cuts and variety meat (compared to last year’s ratios of 22.8 percent and 27 percent). Export value equated to $56.16 per head slaughtered, 4.5 percent above the per-head average established during the same period last year.

With fewer production days this year, September beef production declined 9 percent and exports fell 17 percent in volume to 90,538 mt. September export value dropped 4 percent to $442.8 million, but was significantly higher on a per-head-of-fed-slaughter basis – increasing 7 percent to $227.65.

Despite January-September beef export volume being down 12 percent to 850,439 mt, export value totaled $4.1 billion. This was 2 percent above last year’s record pace and already exceeded the 2010 full calendar year total of $4.08 billion. Exports equated to 9.8 percent of muscle cut production and 12.7 percent when including both muscle cuts and variety meat, compared to last year’s ratios of 11 percent and 14 percent. Export value averaged $213.63 per head of fed slaughter, up about 6 percent compared to the same period in 2011.

Mexico leads September pork market highlights

September pork exports were led by strong growth in Mexico (51,510 mt, +24 percent, valued at $92.8 million, +7 percent). For the year, exports to Mexico were 15 percent higher in volume (443,442 mt) and 11 percent higher in value ($820 million). Mexico is the leading volume market for U.S. pork and ranks second in value to Japan.

September exports to Japan trended lower, but are still on pace for an excellent year. Through the first nine months of 2012, export value to Japan was up 4 percent to $1.495 billion despite a 6 percent decline in volume to 344,362 mt.

Exports to Canada have posted steady growth in 2012, with January-September volume up 14 percent to 172,812 mt and value climbing 16 percent to $628.2 million. September export volume was record-large at 22,229 mt, breaking the previous record set in August.

Led by outstanding growth in Colombia, exports to Central and South America continue to surge. Exports through September were 20 percent higher in both volume (60,739 mt) and value ($154.5 million) compared to last year. For Colombia, exports were up 74 percent in volume (12,350 mt) and 110 percent in value ($35.1 million). September export volume to Colombia also set a monthly record at 2,131 mt.

January-September exports to the China/Hong Kong region were still ahead of last year’s pace in both volume (313,425 mt, +4 percent) and value ($632.4 million, +21 percent). China’s domestic pork inventory, however, is much higher than a year ago and exports in the fourth quarter are unlikely to match last year. Accordingly, September exports of 30,788 mt were the highest since May but were still 35 percent lower than the September 2011 volume.

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RELATED TOPICS: Beef, Pork, Exports

 
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