US beef and pork exports set new record

By Oli Haenlein

- Last updated on GMT

Volumes of pork and beef exports were up in August
Volumes of pork and beef exports were up in August

Related tags International trade Import Export Us Beef Lamb Pork

US beef and pork export values continue to increase at record pace, according to the US Meat Export Federation (USMEF).

USMEF said that, for the second consecutive month, August export value for US beef and pork increased year on year despite declines in volume.

August beef export volumes declined by 3% to 102,456 metric tons (mt), but still managed to set a new monthly value record of $655.2 million – up 16% from a year ago.

Pork export volumes were also down in August, by 6% year on year to 162,992mt. This was partly due to market access issues in Russia and China/Hong Kong, however export value still achieved a 6% increase to $529.9m. 

Exports for both pork and beef are up in volume and value between January and August. For the first eight months of the year beef volumes rose 3%, with value rising 13%. For the same period pork rose 6% in volume and value was up 15%.

USMEF president and CEO Philip Seng said: "International buyers are certainly concerned about supplies, and whether we will be able to meet the growing demand for US beef. But price and supply concerns notwithstanding, their enthusiasm for US beef has never been higher. We continue to see an outstanding response to our marketing campaigns and educational seminars informing buyers about the unique attributes of US beef."

Beef export highlights for 2014 include an increase in volumes to Hong Kong of 30%, and 50% in value. USMEF said exports to South Korea continued to perform extremely well, while a strong summer performance put exports to Taiwan on a record pace, with volume up 11% and value up 16%. Exports to Mexico remained strong for the year, while the US increased its market share in Japan.

The US saw similar success with pork over the first eight months of the year, but has to deal with the Russian import ban, imposed on 7 August, on pork muscle cuts from the US, Canada and the European Union.

Seng said: "When a large buyer like Russia exits the market, the global impact can be widespread. For example, when Russia suspended imports of EU pork in January (due to African swine fever), there was a large increase in European pork entering Asian markets at very low prices. Similar trends could emerge as a result of this import ban, especially with Canadian pork that had previously been shipped to Russia in large quantities now seeking alternative markets."

USMEF added that, after a difficult start in 2014, lamb exports had shown renewed momentum in recent months. August exports were up 4% in volume (807 mt) and 15% in value ($2.14m).

Related topics Meat

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