Meat trade: US beef in good demand
Meat trade

US beef in good demand

Imago / Xinhua
China is one of the major buyers of beef from the United States.
China is one of the major buyers of beef from the United States.

USA, Denver. US beef and pork exports have contrasted in the first half of 2022. The strong US dollar is a concern for exporters.

While international customers, led by China, ordered significantly less pork from the United States, beef sales were quite brisk, notwithstanding higher selling prices. According to data from the U.S. Meat Export Organization (USMEF), US beef exports, including processed products, increased by just over 6% over the first half of 2021 to 743,900 t. The rise in export revenues was impressive, jumping by the equivalent of € 1.52 bn. or one-third to € 6.08 bn. Last year, a record export revenue of € 10.4 bn. in value terms had been achieved, which is expected to be surpassed in 2022.

Headwinds in many key markets

"The performance of US beef exporters in the first half of the year is remarkable, especially considering the increasing economic headwinds in many key markets and ongoing transportation and logistics issues," said USMEF President Dan Halstrom. According to Corona 2022, the revival in the global foodservice sector has provided a tremendous boost, although it is still far from a full recovery in many Asian and European countries. "We certainly see opportunities for further growth, although inflationary pressures and the stronger US dollar continue to raise concerns about consumer purchasing power," Halstrom said.

Pork prices rise in China

In pork, however, US suppliers saw a significant drop in sales of 288,500 t, or 18.3%, to 1.29 mill. t compared to the first six months of 2021. The picture was similar for the associated export revenue, which fell 16.4% to € 3.55 bn. A major contributor was the slump in exports to China, including Hong Kong, by almost 53% to 222,780 t. "The good news is that the Chinese pork price has increased by about 40% since mid-June and we are seeing some recovery in demand for pork there," Halstrom reported. He was pleased with sales to Mexico, which increased by just over 18% to 469,300 t, making it once again the most important customer for US pork.

Source:; AgE


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