U.S. July beef and pork exports rebound, but still below year-ago
Christian Fernsby | ▼ September 12, 2020
July exports of U.S. beef rebounded from recent lows but remained below 2019 levels, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
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U.S. pork exports, which are on a record pace in 2020, were also down from a year ago in July but increased compared to June.
July lamb exports increased year-over-year and were the largest of 2020.
July beef exports totaled 107,298 metric tons (mt), up 36% from June but still 9% below last year.
Export value was $647.8 million, the highest since March but down 10% from a year ago.
July exports to China increased sharply year-over-year and shipments trended higher to Taiwan, Canada and Hong Kong.
July exports were lower than a year ago to Japan and South Korea and declined significantly to Mexico.
For January through July, beef exports were also 9% below last year’s pace in volume (698,907 mt) and 10% lower in value ($4.28 billion).
Beef export value per head of fed slaughter averaged $280.40 in July, down 9% from a year ago.
The January-July average was $297.21 per head, down 5%.
Exports accounted for 12.9% of total July beef production and 10.8% for muscle cuts, compared to 14.4% and 11.8%, respectively, in July 2019.
For January through July, exports accounted for 13.2% of total production and 10.9% muscle cuts, down from 14.2% and 11.6% a year ago.
July pork exports totaled 222,035 mt, down 5% from a year ago, while export value fell 12% to $548.3 million.
Exports increased year-over-year to China/Hong Kong, Canada, the Philippines, Vietnam and the Caribbean.
Exports to Mexico remained below last year but were the largest since March, while shipments to Japan were also down from a year ago but the largest since April.
For January through July, pork exports remained 20% ahead of last year’s record pace in volume (1.78 million mt) and 22% higher in value ($4.6 billion).
Pork export value equated to $48.85 per head in July, down 17% from a year ago.
The January-July average was $61.40, up 20%.
July pork exports accounted for 26% of total pork production and 24% for muscle cuts, compared to 29.3% and 25.9%, respectively, a year ago.
Through July, pork exports accounted for 30.7% of total production and 27.9% for muscle cuts, still up significantly from a year ago (26.3% and 22.9%, respectively). ■ What to read next
A rather strung-out omega block pattern will feature an upper low moving into Southern California with another just offshore New England while an upper high meanders over southern central Canada into the northern Plains.
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