Year-over-year export volumes for beef and pork declined in July, the first time export volumes slowed this year, the US Meat Export Federation reported. But the pace of exports remains strong.
Beef exports dropped 15% in volume in July to 101,799 t, while export values were steady at $621.7 mill. Beef Export volumes from January through July (at 687,752 t) maintained a 4% lead over year-ago totals and remained on a record pace in value ($3.89 bn.).
Pork export volumes slipped 3% in July to 173,270 t, while value gained 14% to $573.5 mill., USMEF reported. Exports from January through July established a record pace in both volume (1.32 mill. t) and value ($4.0 bn.) - the first time export value has exceeded $4 bn. before August.
Asia continues to be a key market for US beef exports, according to USMEF. Beef exports for January through July were equal to 14% of total production and 11% for muscle cuts only. Export Prices per head of fed cattle was $298.56 in July, down slightly compared to June but more than $25 higher year-over-year.
High prices didn't dampen pork exports. Tailwinds for US pork exports included high domestic pork prices in most regions other than Europe and China. Pork exports from January through July were equal to 28% of total production and 23% for muscle cuts only - each up 2% points from a year ago, USMEF reported. July export value per head of slaughter declined to $67.81 - down from its record high in June but still up 23% compared to a year ago. January-July export value jumped 21% to $64.45.
Lamb exports climbed higher in July but were still lower year-over-year, according to USMEF calculations. July lamb exports advanced 3% in volume to 942 t, while export values came in just under $3 mill. - the highest monthly value of the year for US lamb exports. However, lamb exports from January through July remained down 22% in volume and 5% in value.
Demand for US lamb climbed in the Caribbean, United Arab Emirates, Saudi Arabia and Panama, offsetting lower totals for Canada, according to USMEF.
Source: US Meat Export Federation