July Beef Exports Set Record While Pork Value Remains Strong

U.S. beef exports set another value record in July. Data recently released by USDA and compiled by the U.S. Meat Export Federation shows export value climbed 45% year-over-year to just over $939 million, while volume was the third largest of the post-BSE era at 122,743 metric tons, up 14% year-over-year. July beef exports to the mainstay Asian markets of Japan, South Korea, and Taiwan were relatively steady with last year, but at a significantly higher value. Exports volume growth was driven by record-large shipments to China and a strong rebound in markets located in the Western Hemisphere.

From January through July, U.S. beef exports rose 18% from last year to over 822,800 metric tons, with the value 30% higher at $5.58 billion.

Pork exports were steady with last year at 221,800 metric tons, but the export value jumped 20% to $657 million. July pork exports were mainly driven by growth in Mexico, Central America, Colombia, and the Philippines, while chilled exports were stronger in Japan and South Korea. For January through July, exports were one percent above last year’s record pace at just under 1.8 million tons, while value jumped by eight percent to $4.98 billion.

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