First-Half Results Encouraging for U.S. Meat Export Value

By CnAgri2012-08-13 19:31:22 Print

U.S. pork and beef exports concluded the first half of 2012 in solid fashion, with June pork exports 4 percent higher in value than last year on steady volume. Despite a 15 percent decline in volume, June beef exports were still slightly higher in value than a year ago. These results are based on statistics released by the USDA and compiled by the U.S. Meat Export Federation.

June pork exports totaled 165,065 metric tons valued at $468.3 million. This pushed the first half total to 1.13 million metric tons valued at $3.17 billion, which was 5 percent higher in volume and 13 percent higher in value than the record pace of 2011. June export value equated to $54.78 per head slaughtered, bumping per-head value for the year to $57.80 -- more than 10 percent higher than in the first half of 2011. For the year, about 24 percent of U.S. muscle cut production has been exported and nearly 28 percent of total production (muscle cuts plus variety meat). Last year these ratios were 22.5 percent and 27 percent, respectively.

Beef exports in June totaled 94,119 metric tons valued at $464.4 million. The results continued this year's pattern, with export volume significantly lower than last year's record pace but with an increase in export value. Through June, this year's beef export volume was down 11 percent to 550,462 metric tons while export volume was up 4 percent to $2.66 billion. June export value equated to $203.90 per head of fed slaughter, with per-head value for the year reaching $208.88. This is 8.5 percent higher than in the first half of last year. For the year, exports accounted for just under 10 percent of total muscle cut production and 12.5 percent when including both muscle cuts and variety meat - lower than last year's ratios of 10.6 percent and 13.8 percent.

Markets driving first half export growth for U.S. pork included volume leader Mexico, which was up 13 percent in volume to 294,097 metric tons and 11 percent in value to $537.4 million. Value pacesetter Japan was up 7 percent in value ($1.01 billion) despite a 7 percent decline in volume (231,984 metric tons). June was a rather slow month for Japan, with export volume posting the lowest total (32,923 metric tons) since September 2010.

U.S. lamb exports also struggled with a tough economic environment in the first half of 2012, finishing 34 percent lower in volume (6,215 metric tons) and 19 percent lower in value ($12.5 million). June results were lower than a year ago but offered some encouraging signs as export volume (1,106 metric tons) was the highest since January and value ($2.5 million) was the second-highest of the year (slightly below March).