WASHINGTON – Key export markets for pork and beef posted gains in value during July, according to the US Meat Export Federation (USMEF).
The value of pork exports from January to July was substantially higher in several key markets. The value of pork exports to Mexico gained 12 percent ($625 million); China/Hong Kong rose sharply by 55 percent ($508 million); Canada climbed 19 percent ($473.5 million); and Russia rose 38 percent ($168.4 million).
Pork exports to South Korea declined slightly in value by roughly one-fourth ($262.6 million), USMEF said.
The value of beef exports to key markets posted increases despite declines in volumes, according to USMEF. The value of beef exports to Canada gained 7 percent ($639.3 million); the Middle East climbed 8 percent ($201.5 million); Japan advanced 19 percent ($600.2 million); and the ASEAN region grew 14 percent ($160 million). Exports also recorded increases in value in Russia (38 percent to $184.7 million); Central and South America (79 percent to $76.1 million); and Hong Kong (22 percent to $161.7 million).
Mexico slipped to third (behind Canada and Japan) for value of beef exports at $518.3 million, according to USMEF. A weak peso presented a challenge to US beef exports to Mexico, while a weak economy and large domestic supplies hurt exports to South Korea. Beef exports to South Korea declined in volume (76,559 metric tons) and value (down 18 percent to $353.6 million) through July.
Beef exports to Taiwan were hard-hit by regulatory restrictions, USMEF said. Export volumes to Taiwan declined 65 percent, while export value retreated 58 percent to $43.4 million. USMEF expects the business climate in Taiwan to improve after the establishment of a maximum residue level for ractopamine.