USA Strong pace in pork and beef exports
Beef exports totaled 90,417 mt in February, up 9% year-over-year, with value up 16% to $508.5 mill. Through February, beef exports were up 13% in volume (186,905 mt) and 17% in value ($1.02 bn). February exports accounted for 12.6% of total beef production and 10.1% for muscle cuts only, which was steady with last year. January-February ratios were also fairly steady at 12.4% and 9.8%, respectively. Export value per head of fed slaughter averaged $276.96 in February, up 13% from a year ago, while the January-February average was up 10% to $266.34 per head.
“With trade deficits being a hot topic of conversation, especially with countries such as Mexico, China and Japan, it’s important to highlight the sectors in which U.S. products are competitive throughout the world and exports are thriving,” said USMEF President and CEO Philip Seng. The red meat sector is certainly in that category, as exports have helped fuel growth in the U.S. industry and, in turn, larger U.S. production has opened further export opportunities and generated positive returns for the entire supply chain.