Strong mid-year results for US pork, beef exp...

Strong mid-year results for US pork, beef exports

A very solid June performance allowed U.S. pork and beef exports to finish the first half of 2010 with strong momentum. According to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF), pork exports of 164,000 metric tons (361.6 million pounds) were 24 percent higher than June 2009.

Pork export value was $316.4 million, up 34%. June beef exports were 25 percent above year-ago volumes, totaling 96,578 metric tons (212.9 million pounds), while the value in June was up 37% $377.6 million. A

For the first six months of the year, pork exports were 3% above their year-ago pace in terms of volume (951,803 metric tons or 2.1 billion pounds). But with much-improved pork prices, export value was nearly 10% higher at $2.35 billion. This is even slightly higher than the value reached in the first half of 2008 ($2.32 billion), the year in which pork export value set an all-time record. Export value per head during the six-month period was more than $44 – up significantly from $39.20 in 2009. The industry exported 24% of its total production, compared to 23% last year.

Beef export volume reached 495,443 metric tons (1.09 billion pounds) – up 14% over the first half of 2009. Export value has fared even better, rising 22% to $1.83 billion. Export value per steer and heifer slaughtered was $139, compared to less than $115 last year. The percentage of total production exported increased from 10% to 11%.

After an early-2010 slump caused mainly by high domestic pork inventories, U.S. pork exports to Japan performed much better in the second quarter. January’s export value was more than 25% below the year-ago level. By the end of the first quarter, export value still trailed the 2009 pace by 13%. But April, May and June were all solidly in the “plus” column, pushing export volume to 226,171 metric tons (498.6 million pounds) valued at $834 million. This is a slightly higher volume and a 3% increase in value over the first half of last year.
Full 2010 exports results through June can be found here.
Source: U.S. Meat Export Federation