Beef exports set another value record in July
Beef exports continued to soar in July.
U.S. beef exports set another new value record in July, according to data released by the USDA and compiled by the U.S. Meat Export Federation. July export value climbed 45% from a year ago to $939.1 million, while volume was the third largest of the post-BSE era at 122,743 metric tons (mt), up 14% from a year ago.
These numbers were posted despite relatively steady exports to Japan, South Korea and Taiwan.
Beef values were significantly higher than a year ago.
Volume growth was generated primarily by record-high shipments to China, along with a strong jump in numbers from markets in the Western Hemisphere, according to the USMEF.
Over the first seven months of 2021, U.S. beef exports increased 18% from a year ago to 822,830 mt, with value up 30% to $5.58 billion. Compared to the pace established in 2018, the record year for U.S. beef exports, shipments were up 6% in volume and 17% in value.
On the pork side, export volume was steady, but values increased by 20% to $657.3 million. Pork variety meat exports were especially strong at 49,092 mt, up 54% from the low total posted a year ago. Variety meat export value was the second highest on record at $116.7 million, up 69% from a year ago.
“Beef exports were really outstanding in July, especially with COVID-related challenges still impacting global foodservice as well as persistent obstacles in shipping and logistics,” said USMEF President and CEO Dan Halstrom. “Retail demand continues to be tremendous, as evidenced by the new beef value record. On the pork side, the U.S. industry remained focused on market diversity even when China’s import volumes were absolutely off the charts.
“That philosophy is paying strong dividends now, with exports maintaining a record pace even as muscle cut exports to China trend significantly lower.”
Halstrom said he was encouraged by the jump in variety meat exports.
“While the tight labor situation is still very much a challenge for exporters, the variety meat capture rate has certainly improved and it is great to see exports exceed pre-COVID levels,” he said. “This is especially important because China’s demand for pork variety meat remains strong and it is critical that the U.S. industry capitalizes on this opportunity.”
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