According to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF), U.S. pork exports set new monthly records in October and beef exports increased 10% over last year in terms of export value.
Pork exports in October of 218,132 MT were up 9% from year-ago -- valued at $607 million. USMEF says this is the first time pork export value exceeded $600 million -- breaking the previous high by 1.5%. Year-to-date pork exports were running 3% ahead of year-ago in terms of volume and 6% ahead of year-ago in terms of value.
Beef exports in October of 101,447 MT were down 4% from year-ago, but up 10% in terms of total value at $496 million. USMEF says this is consistent with this year’s pattern, which has seen an 11% decline in volume, while export value has climbed 2% above last year's record pace.
USMEF President and CEI Philip Seng says considering the global economic headwinds, beef export value is holding up extremely well. "For livestock producers who are facing some very tough obstacles, the export markets are truly a source of optimism," he adds.