USMEF reports largest month ever for export value
Jan. 9, 2018
by Ryan McCarthy
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The group also reported breaking the $1 billion mark for pork variety exports.
WASHINGTON – The November pork exports number included a total of 223,962 metric tons (mt), down slightly from November 2016. Despite lower total exports the monthly value was the highest ever with $615.6 million. It is only the fourth time the monthly export value has topped $600 million, the US Meat Export Federation (USMEF) reported.
Pork variety meat exports slowed in November, the 11-month total of 498,661 metric tons was still 6 percent higher year-over-year. Pork variety meat export value also climbed 19 percent to $1.06 billion, setting a full-year record and exceeding $1 billion for the first time.
“For all livestock producers, variety meat exports make a very important contribution to carcass value,” said USMEF President and CEO Dan Halstrom. “USMEF has made it a priority to help our international customers develop more uses for pork variety meat and to broaden the global market for these products. At a time of record-large pork production, it is especially gratifying to see variety meat export value jump nearly 20 percent, which boosts the bottom line for everyone in the supply chain.”
USMEF said export value per head slaughtered averaged $58.38 in November, a 6 percent year-over-year increase. Through 11 months export value averaged $53.18, which is up 7 percent. Exports accounted for 27.7 percent of total pork production in November, and 24.1 percent for muscle cuts only.
Beef exports totaled 111,915 metric tons (mt) in November, down 3 percent from the large volume of November 2016. Export value was the second highest of 2017 at $666.4 million– up 8 percent from a year ago. Through November, beef exports jumped 7 percent in volume at more than 1.15 million metric tons while values topped $6.6 billion year to date, a 15 percent increase.
Exports accounted for 13.1 percent of total US beef production in November 2017, and 10.9 percent for muscle cut only. From January to November saw beef exports accounting for 12.8 percent of total production which is down from 13.5 percent in 2016. Fed slaughter averages per head on exports were valued at $306.63 in November, up 4 percent from a year ago. Through November, per-head export value was $282.34 up 9 percent.
Pork exports to Mexico remained consistent in November. Through 11 months, US pork exports grew 12 percent in volume (726,717 metric tons.) and 15 percent in value ($1.37 billion).
Pork exports to Japan advanced 4 percent in volume (38,979 mt.) and 7 percent in value ($164.9 million). This pushed Japan’s 11-month totals up 1 percent (to 361,401 mt) and 4 percent (to $1.49 billion), respectively.
Beef exports to Japan continued to be high with volume increase 5 percent year-over-year to 24, 819 metric tons and value up 6 percent to $159.2 million. Through November, Japan’s totals moved up 285,336 metric tons at a value of $1.75 billion
Beef exports to China continue to slowly move forward with 665 metric tons, the largest since the mid-June market opening. This is valued at $5.7 million. Through November, exports reached 2,225 metric tons valued at $22.8 million.
“US beef has only really scratched the surface in China, so exports are still relatively small, but the value per pound is among the highest in the world,” Halstrom said. “This makes China an exciting addition to our strong portfolio of Asian markets, where beef exports continue to expand at an impressive rate. 2017 was a tremendous year for US beef in Asia, and the coming year looks very promising as well.”