The latest data from the U.S. Department of Agriculture (USDA) shows July exports of U.S. beef rebounded from recent lows but remained below 2019 levels. Here is U.S. Meat Export Federation (USMEF) Economist, Erin Borror.
U.S. pork exports, which are on a record pace in 2020, were also down year-over-year in July but increased compared to June. Borro says it was the variety meats that really slid.
According to data released by USDA and compiled by USMEF, July beef exports totaled 107,298 metric tons (mt), up 36% from June but still 9% below last year. Export value was $647.8 million, the highest since March but down 10% from a year ago.
July exports to China increased sharply year-over-year, and shipments trended higher to Taiwan, Canada and Hong Kong. July exports were lower than a year ago to Japan and South Korea and declined significantly to Mexico. For January through July, beef exports were also 9% below last year’s pace in volume (698,907 mt) and 10% lower in value ($4.28 billion).
July pork exports totaled 222,035 mt, down 5% from a year ago, while export value fell 12% to $548.3 million. Exports increased year-over-year to China/Hong Kong, Canada, the Philippines, Vietnam and the Caribbean. Exports to Mexico remained below last year but were the largest since March, while shipments to Japan were also down from a year ago but the largest since April. For January through July, pork exports remained 20% ahead of last year’s record pace in volume (1.78 million mt) and 22% higher in value ($4.6 billion).
A complete summary of January-July exports of U.S. pork, beef and lamb, including market-specific highlights, is available online.