USMEF Weekly Audio: Strong October for Pork and Beef Muscle Cut Exports
U.S. pork exports posted broad-based gains in October, solidifying 2020’s record pace, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef muscle cut exports were also higher than a year ago in October, though lower variety meat volumes pushed total beef exports slightly below last year.
October pork exports were up 8% year-over-year to 242,536 metric tons (mt), with value also increasing 8% to $641.1 million. USMEF President and CEO Dan Halstrom notes that unlike some months earlier in the year, pork export growth was not heavily concentrated in China. Exports to Japan and Mexico were also substantially higher than a year ago while shipments to Central and South America were the largest since March. Through the first 10 months of the year, pork exports were 15% ahead of last year’s record pace at 2.46 million mt, with value up 16% to $6.33 billion.
October beef exports were slightly lower than a year ago at 107,591 mt (down 0.4%), valued at $646 million (down 0.5%), but exports to China set another new record and volumes were well above year-ago levels to Japan and Taiwan. Halstrom added that while October beef exports to Mexico were still below last year, the market is showing signs of a rebound. For January through October, beef exports trailed last year’s pace by 7% in volume (1.02 million mt) and 8% in value ($6.2 billion).
A detailed summary of U.S. red meat exports through October, including market-specific highlights, is available from the USMEF website.
Submitted to the BARN by:
Vice President, Communications
U.S. Meat Export Federation