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U.S. pork and beef exports on record pace through February

Christian Fernsby ▼ |
U.S. pork exports posted the third largest month on record in February while U.S. beef exports also recorded double-digit gains from a year ago, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

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Topics: U.S.    PORK    BEEF    EXPORT   

Through February, exports of both pork and beef are on a record pace and account for a growing share of record-large U.S. production.

February pork exports reached 273,056 metric tons (mt), up 46% from a year ago, valued at $726.6 million (up 59%), trailing only the volume and value totals from December 2019 and January 2020.

For the first two months of the year, pork exports exceeded last year’s pace by 41% in volume (546,659 mt) and 54% in value ($1.47 billion).

Pork export value per head slaughtered was $67.77 in February, up 50% from a year ago and the highest since 2014.

The January-February average was $65.02, up 45%.

Exports accounted for just under 33% of total February pork production and nearly 30% for muscle cuts only, the highest on record and up substantially from last year (24% and 21%, respectively).

The January-February ratios were 31.3% of total production and 28.6% for muscle cuts, up from 23.8% and 20.6%, respectively, in 2019.

U.S. beef exports also achieved outstanding growth in February, increasing 18% from a year ago to 112,021 mt and climbing 17% in value ($681 million).

These results pushed January-February volume 10% above last year’s pace at 219,395 mt and 11% higher in value ($1.35 billion).

Beef export value per head of fed slaughter was $343.03 in February, up 11% from a year ago and the highest since December 2018.

The January-February average was $321.86, up 7%.

Exports accounted for 15.3% of total February beef production, up from 13.9% a year ago, and 12.4% for muscle cuts only (up from 11%).

Through February, exports accounted for 14.1% of total beef production and 11.5% for muscle cuts, up from 13.5% and 10.7%, respectively, last year. ■

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