USA; Washington. The production challenges and economic headwinds slowed US red meat exports in May.
US beef and pork exports trended lower in May, due in part to interruptions in slaughter and processing, according to data released by USDA and compiled by USMEF. Beef exports dropped well below year-ago levels and recorded the lowest monthly volume in 10 years. Pork exports remained higher than a year ago but were the lowest since October 2019.
May beef exports were down 33% from a year ago to 79,280 t, with value falling 34% to $ 480.1 mill., as shipments were higher than a year ago to Hong Kong and China but trended lower to most other markets. For January through May, beef exports fell 3% below last year’s pace in volume (512,596 t) and 5% lower in value ($3.14 bn.).
May pork exports totaled 243,823 t, 12% above a year ago but down 13% from the monthly average for the first quarter of 2020. Export value was $620.9 mill., up 9% year-over-year but 16% below the first quarter monthly average. May exports increased year-over-year to China/Hong Kong, Taiwan and Vietnam, but trended lower to Mexico, Japan, Canada and South Korea. For January through May, exports were 30% ahead of last year’s pace in volume (1.35 mill. t) and 37% higher in value ($3.53 bn.).