Beef Exports on $1 Billion Per Month Pace; Pork Exports Gain Strength

U.S. beef exports topped $1 billion in July and posted the fifth-largest volume on record. Pork exports gained strength in certain markets but remain below last year’s pace, according to data released by USDA and compiled by the U.S. Meat Export Federation.

Beef export value increased 7% in July, topping $1 billion in a month for the sixth time this year. Exports totaled 126,567 metric tons, up 3% year-over-year. Japan was the leader in broad-based growth, but volumes also increased to China/Hong Kong, the ASEAN region, Central America, the Caribbean and Colombia.

For the first seven months of the year, beef exports increased 6% from a year ago to 870,471 mt, valued at $7.2 billion (up 29%). Export value per head of fed slaughter is on a record pace at more than $475.00.

"Global demand for U.S. beef continues to be amazingly resilient, especially at the retail level,” said USMEF President and CEO Dan Halstrom. "Exports have also benefited from a partial rebound in the foodservice sector but this recovery is far from complete. Many markets are still gradually easing COVID restrictions, so we definitely see opportunities for further growth as restaurant traffic returns.”

U.S. pork exports reached 208,095 mt in July, down 6% from a year ago, valued at $625 million (down 5%). For January through July, exports were 17% below last year at just under 1.5 million mt, valued at $4.24 billion (down 15%).

Exports to Mexico, the top market for U.S. pork, remain well above last year’s record pace, while shipments to Colombia, the Caribbean and South Korea continued to strengthen in July. Exports to China/Hong Kong were lower than a year ago in July but posted the largest volume since September and the highest value in 12 months.

“July pork exports were below last year but the good news is that the per-unit price of U.S. pork is trending higher in the international marketplace, even while our major competitors’ prices remain below year-ago levels,” Halstrom said. “Export value per head in July reached $67.10, nearly even with year-ago and the highest since last July. We are also encouraged by the recent trendlines for pork variety meat exports, especially to China and Mexico.”