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U.S. July beef and pork exports rebound, but still below year-ago

Christian Fernsby |
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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Topics: U.S.   

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).

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