August Beef Exports Top $1 Billion; Pork Exports on Record Pace
U.S. beef exports topped $1 billion in value for the first time in a single month during August. At the same time, U.S. pork exports posted another strong month in August, remaining ahead of the record pace established last year.
According to data released by USDA and compiled by the U.S. Meat Export Federation, August beef export value climbed 55% to $1.04 billion, due largely to record shipments to China and the largest exports of the year to Japan. Beef export volume was up 21% from a year ago and the second largest of 2021.
Year-to-date beef exports increased 18% from last year to 955,407 metric tons, with value up 34% to $6.62 billion. Export were also 6% higher in volume and up 20% in value compared to the record pace established in 2018.
Pork exports rose 4% in August to 225,822 metric tons, and value increased 20% to $633.9 million. USMEF said record exports to Mexico and strong growth in several other markets helped offset the expected slowdown in muscle cut exports to China.
Year-to-date exports were 1.5% above 2020 at just over 2 million metric tons, while value climbed 10% to $5.62 billion. Pork exports are on a record pace to Mexico, Central America and the Dominican Republic, and chilled pork exports to Japan and South Korea are above last year. While China's demand for pork muscle cuts is trending lower, variety meat exports to China continue to expand.
"The August export results would be impressive under any circumstances, but achieving these totals despite all the COVID-related obstacles at home and overseas is truly remarkable," said USMEF President and CEO Dan Halstrom. "Our transportation and labor situation is challenging, and customers continue to face an uncertain business climate due to foodservice restrictions and other economic headwinds. Yet international buyers remain committed to the quality and consistency delivered by U.S. red meat, and the U.S. industry has gone to tremendous lengths to keep shipments moving."
Halstrom emphasized the broad-based growth achieved in 2021, noting that it bodes well for both near and long-term exports.
"Obviously breaking the $1 billion mark in a single month is a huge milestone for U.S. beef, and that's not possible unless a wide range of markets are hitting on all cylinders," he said. "But the trendlines for U.S. pork are also very encouraging. Just a few years ago, it was an achievement to reach $6 billion in pork export value in a full year. In 2021, exports will exceed that total with an entire quarter to spare."
