Kelly Manufacturing



National & World Ag News Headlines
Pork Exports Largest Since 2014; Beef Remain Strong
USAgNet - 12/08/2016

U.S. pork and beef exports continued to build momentum in October, with both achieving double-digit increases from a year ago, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

October pork exports totaled 201,936 metric tons (mt), up 14 percent year-over-year and the largest monthly volume since March 2014. Export value was $521.1 million, up 16 percent. For January through October, export volume was 6 percent above last year's pace at 1.86 million mt, while export value was up 3 percent to $4.79 billion.

Exports accounted for 25.5 percent of total pork production in October and 21 percent for muscle cuts only. For January-October, exports accounted for 25 percent of total production -- up a full percentage point from a year ago -- and 21 percent for muscle cuts, up slightly. Export value per head slaughtered averaged $47 in October, up 8 percent year-over-year, while January-October export value averaged $49, steady with the same period last year.

October beef export volume was 105,938 mt, up 12 percent from a year ago, while export value climbed 10 percent to $559.5 million. For January through October, export volume was up 9 percent from a year ago at 954,868 mt, while value was down 3 percent to $5.1 billion. Beef muscle cut exports were especially strong in October at 75,903 mt -- the largest volume in two years.

Beef exports accounted for 14 percent of total production in October and 11 percent for muscle cuts only. January-October ratios were just over 13 percent and 10 percent, respectively -- up slightly from the same period last year. Export value per head of fed slaughter averaged $269.35 in October, up 5 percent year-over-year. Through the first 10 months of 2016, export value averaged $254.71 per head, down 8 percent.

"With pork production at a record level and beef production also on the rise, it is imperative that we work to expand global demand and accelerate the volume of product entering the international markets," said Philip Seng, USMEF president and CEO. "With strong support from USDA, our U.S. industry partners and our international contacts, USMEF has intensified its marketing efforts in key destinations and capitalized on opportunities to regain market share -- not only in mainstay markets such as Japan, Mexico and South Korea, but in a wide range of countries. This has laid the groundwork for a strong finish to this year and further growth in 2017."

Pork exports to Mexico remained strong in October, increasing 9 percent from a year ago in volume (65,271 mt) and 6 percent in value ($115.2 million). For January through October, exports to Mexico pulled within 2 percent of last year's record pace in volume (576,008 mt) and remained 1 percent higher in value ($1.05 billion). This strong performance has been especially supportive of prices for U.S. hams, the highest-volume export item to Mexico. Through October, in pesos, U.S. ham prices were 21 percent higher than a year ago while demand in Mexico remained strong. Ham prices strengthened further in November, and weekly export data showed even larger shipments to Mexico. To overcome the difficult exchange rate situation, USMEF has emphasized the quality and consistency of U.S hams with Mexico's meat processors and worked with these companies on new product development.

Pork exports to leading value market Japan were also strong in October, increasing 4 percent from a year ago in volume (30,987 mt) and 9 percent in value ($127.9 million). Through the first 10 months of the year, exports to Japan were 7 percent below last year's pace in volume (320,491 mt) and 4 percent lower in value ($1.29 billion). Chilled pork exports to Japan remained on a record pace through October, totaling 180,793 mt, up 9 percent year-over-year.

Pork muscle cut exports to China/Hong Kong continued to moderate in October, reflecting a rebound in China's domestic pork production, but variety meat exports to the region remained strong. For January through October, total pork/pork variety meat exports to China/Hong Kong were up 66 percent from a year ago in volume (450,257 mt) and 55 percent higher in value ($878.8 million).


Other National Headlines
McFarlanes/Flexharrow
Grand View Safety Grooving
Copyright © 2024 - Farms.com. All Rights Reserved.