July exports of U.S. beef climbed 6% year-over-year in value while volume was steady, according to data released by USDA and compiled by the U.S. Meat Export Federation. Although restrictions related to a finding of pseudorabies virus were removed in mid-to-late July, pork exports – especially pork variety meats – were still significantly impacted, which contributed to July results trending lower than a year ago.
Taiwan, Mexico and Japan fuel increase in July beef export value
Beef exports totaled 89,139 metric tons, steady with last July, while value was 6% higher at $796.7 million. The value increase was driven primarily by another outstanding month for Taiwan, as well as strong results in Mexico, Japan, the Middle East, Colombia, the Caribbean and the ASEAN region. July shipments to China rebounded slightly from last year’s minimal volumes, but remained far below the levels seen in previous years. Beef export value equated to just over $421 per head of fed slaughter in July, up 14% from a year ago. The January-July average was up 7% to $430.25 per head.
For January through July, beef exports were 8% below last year’s pace at 634,788 mt, while value was down 2% to $5.53 billion. When excluding China from these results, exports increased 6% in value and were down just 1% in volume from a year ago.
“Despite significant headwinds, global demand for U.S. beef remains impressively resilient,” said USMEF President and CEO Dan Halstrom. “Technical barriers and uncertainty continue to weigh heavily on exports to China, but we are hopeful that market access will be restored soon. In the meantime, U.S. beef is capitalizing on growth opportunities in Asian and Western Hemisphere markets, as well as in the Middle East.”
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