Strong momentum continues for pork, beef exports

by Editor fleischwirtschaft.com
Monday, September 22, 2008

U.S. pork and beef exports continued their strong performance in July, as pork exports remain on an all-time record pace for the year and beef exports are achieving levels of success not seen since 2003.

The torrid pace of 2008 pork exports has been largely attributed to skyrocketing volumes of pork destined for China/Hong Kong. But even a significant July slowdown in this region could not break the global momentum for U.S. pork, as it was offset by strong growth in other major export markets.

A new monthly record was set for pork and pork variety meat exports to Mexico in July, totaling 38,973 tonnes (85.9 million pounds) valued at more than $75 million. Exports to Mexico in the first seven months of 2008 have totaled 202,280 tonnes (445.9 million pounds) valued at $345.7 million - an increase of 31% in volume and 39% in value over last year. July pork exports to Russia were also record-large at 19,903 tonnes (43.8 million pounds) valued at $42.3 million, putting Russia’s total for January-July 2008 at 113,434 tonnes (250.1 million pounds) valued at $240 million. This represents an increase of 153% in volume and 158% in value over the same period last year.

January-July pork exports to Japan – the largest destination for U.S. pork in terms of value - totaled 259,144 tonnes (571.3 million pounds) valued at $849.7 million. This is an increase of 24% in volume and 27% in value over last year. Canada has shown similar results, as pork exports to Canada in the first seven months of 2008 jumped 24% in volume and 21% in value over last year (to 96,106 tonnes or 211.8 million pounds valued at $313.5 million). Exports to South Korea totaled 82,106 tonnes (181 million pounds) valued at $172.2 million during the same period, an increase of 41% in volume and 23% in value over last year.

Citing growing strength in Asian markets, USDA boosted its forecast for beef exports last week - raising its outlook for the remainder of 2008 as well as for 2009. Factoring in last week’s increase, USDA now forecasts 2008 beef exports to finish 28% higher than last year, and to increase by an additional 12% in 2009.
stats