The U.S. Meat Export Federation (USMEF) says according to data released by USDA, August was a strong month for beef and pork exports. Pork exports reached their highest monthly volume of the year at 186,068 metric tons (MT), and the second-highest value total of all time at $531.2 million. Beef exports set an all-time monthly value record at $514.2 million on a strong volume of 116,405 MT. Both pork and beef exports are on pace to set new value records in 2011 and to eclipse the $5 billion mark for the first time ever, they note.
Pork exports surge in Asia, Canada, Russia, Southern Hemisphere markets
August pork exports were 27% higher than a year ago in terms of volume and 44% higher in value (surpassed only by the record $553.6 million, set in March 2011). This performance pushed year-to-date exports to nearly 1.44 million MT valued at $3.82 billion -- an increase of 16% in volume and 23% in value over last year’s pace. August exports equated to 27.3% of production with a value of $56.27 per head, compared to 22.4% and $40.87 in August 2010. For the year, pork exports equated to 27.3% of production with a per head value of $53.98.
Beef exports show strong growth in nearly all major markets
Despite slipping slightly from July in terms of volume, a strong August performance pushed beef exports 26% higher for the year in volume (857,680 MT) and 39% higher in value ($3.58 billion). August exports equated to 14% of total U.S. production with a value of $214.11 per head of fed slaughter. (This compared to just under 12% and $159.59 per head last year.) For the year, beef exports equated to 14.2% of production with a value of $200.75 per head.
Juli says: Keep in mind that USDA trimmed its 2012 pork export forecast in this month's S&D Report, but still sees growth from 2011. USDA raised its 2011 and 2012 beef export forecasts this month, reflecting their belief a weak U.S. dollar will keep demand for U.S. beef strong. After this month's strong August data, USDA may raise its 2011 pork export forecast a touch.