beef exports

August Beef Exports Soar to New Heights, Pork Export Value Still under Pressure

Dan Cattle, Hogs & Pork, Industry News Release, Trade

U.S. beef exports set new records in August with export value topping $750 million for the first time.

beef exportsThe U.S. Meat Export Federation says August pork exports were fairly steady with last year’s volume, but retaliatory duties in key markets continued to pressure pork export value.

August beef exports totaled 119,800 metric tons, up seven percent from a year ago, valued at $751.7 million, and up 11 percent year-over-year. For January through August, beef exports totaled 899,300 metric tons, up nine percent from a year ago, while value climbed 18 percent to $5.51 billion.

Meanwhile, August pork export volume was down 1 percent from last year at 182,300 metric tons, while export value fell three percent to $494.1 million. For January through August, combined pork and pork variety meat exports remained one percent ahead of last year’s record pace at 1.63 million metric tons, while value increased three percent to $4.32 billion.

USMEF President and CEO Dan Halstrom concluded that “Pork exports have posted an impressive performance in 2018, but the retaliatory duties are clearly a significant obstacle.”

Source: National Association of Farm Broadcasting News Service.