US beef exports have jumped in July
|US beef exports have performed perfectly this summer, with another new value record in July, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). July export value climbed 45% from a year ago to $939.1 million, while volume was the third largest of the post-BSE era at 122,743 metric tons (mt), up 14% year-over-year.
July beef exports to the mainstay Asian markets of Japan, South Korea and Taiwan were relatively steady with last year, but at significantly higher value. Export volume growth was driven by record-large shipments to China and a strong rebound in Western Hemisphere markets compared to year-ago totals. For January through July, U.S. beef exports increased 18% from a year ago to 822,830 mt, with value up 30% to $5.58 billion. Compared to the pace established in 2018, the record year for U.S. beef exports, shipments were up 6% in volume and 17% in value.
“Beef exports were really outstanding in July, especially with COVID-related challenges still impacting global foodservice as well as persistent obstacles in shipping and logistics. Retail demand continues to be tremendous, as evidenced by the new beef value record. On the pork side, the U.S. industry remained focused on market diversity even when China’s import volumes were absolutely off the charts. That philosophy is paying strong dividends now, with exports maintaining a record pace even as muscle cut exports to China trend significantly lower,"said USMEF President and CEO Dan Halstrom.
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