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USMEF: Strong pork and beef exports in October

U.S. pork exports posted broad-based gains in October, solidifying 2020’s record pace, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef muscle cut exports were also higher than a year ago in October, though lower variety meat volumes pushed total beef exports slightly below last year.

Posted on Dec 09 ,08:19

October pork exports were up 8% year-over-year to 242,536 metric tons (mt), with value also increasing 8% to $641.1 million. Through the first 10 months of the year, exports were 15% ahead of last year’s record pace at 2.46 million mt, with value up 16% to $6.33 billion. October muscle cut exports posted double digits gains at 201,723 mt (up 11%), with value up 10% to $551.8 million. This pushed January-October totals for pork muscle cuts to 2.07 million mt (up 20%) valued at $5.49 billion (up 18%).

Pork export value averaged $46.87 per head slaughtered in October, down 3% from a year ago, but the January-October average was still 12% higher at $57.33. Exports accounted for 26% of total pork production in October and 23.2% for muscle cuts only, up from 24% and 20.9%, respectively, a year ago. Through October, exports accounted for 29.2% of total production and 26.5% for muscle cuts, each up significantly from the 2019 ratios of 26% and 22.6%.

October beef exports were slightly lower than a year ago at 107,591 mt (down 0.4%), valued at $646 million (down 0.5%). For January through October, exports trailed last year’s pace by 7% in volume (1.02 million mt) and 8% in value ($6.2 billion). Beef muscle cut exports trended higher than a year ago in October, increasing 5% to 85,445 mt valued at $573.8 million (up 1%). January-October muscle cut exports were 5% below last year in volume (791,694 mt) and 8% lower in value ($5.48 billion).

Beef export value averaged $283.94 per head of fed slaughter in October, steady with last year. The January-October average was $293.99, down 5% from a year ago. Exports accounted for 12.7% of October beef production, down slightly from a year ago. But for muscle cuts only, the percentage increased from 10.5% a year ago to 10.8%. January-October exports accounted for 13.2% of total beef production and 11% for muscle cuts, each down about one-half percentage point from a year ago.

"While the tight labor situation continues to limit the cut and variety meat specifications available for export, red meat demand is strengthening in many critical markets," said USMEF President and CEO Dan Halstrom. "October exports of bone-in hams, for example, were near the July record and up 50% from a year ago. This has been a volatile year, filled with shifts in consumer preferences and a lot of uncertainty for international buyers. But the U.S. industry has responded positively to these challenges and the demand dynamics for red meat are quite strong as we approach year’s end. When the gains made at retail over the past several months are combined with a stronger foodservice recovery, the prospects for export growth are very promising."

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