US beef exports remain on record pace, says USMEF
For January through November, exports reached 1.24 million mt, up 8 percent year-over-year and 6 percent above the record pace of 2011. At $7.63 billion, beef export value was up 16 percent and has already broken the full-year record set in 2017 ($7.27 billion).
Beef export value per head of fed slaughter is also on a record pace, averaging $322.97 in November (up 5 percent from a year ago) and $320.72 during the first 11 months of 2018 (up 14 percent).
Exports accounted for 13.1 percent of total November beef production and 10.9 percent for muscle cuts, both steady with November 2017. For January through November, exports equated to 13.4 percent of total production and 11.1 percent for muscle cuts – up from 12.8 percent and 10.3 percent, respectively, in 2017.
These numbers highlight the strong international demand for U.S. beef as exports are accounting for a larger share of growing U.S. production and are fetching higher prices, with some U.S. cuts trading at record prices in Asia.
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