US beef exports continue strong pace, says USMEF
US beef exports in September increased by 6% compared to a year ago to 110,160 metric tons (mt) with a value of $687.1 million, which was also up 11% in the mentioned period.
In the first nine months of the year, US beef exports increased by 9% to 1 million mt and their value surged by 18% to $6.2 billion. USMEF said that for beef muscle cuts only, the year-over-year increases were even more impressive, jumping 13 percent in volume (777,740 mt) and 20 percent in value ($5.54 billion).
Exports accounted for 13.7 percent of total beef production in September and 11.4 percent for muscle cuts only, up from 12.5 percent and 10.4 percent, respectively, a year ago. For the first three quarters of 2018, exports accounted for 13.5 percent of total production (up from 12.8 percent) and 11.1 percent for muscle cuts – up one full percentage point from last year. Beef export value equated to $334.63 per head of fed slaughter in September and $320.85 for January through September, each up 16 percent from a year ago.
“With a full quarter still to be reported, beef export value records are already being surpassed in some markets and global value is on track for $8 billion by year’s end,” said USMEF President and CEO Dan Halstrom.
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