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Agricultural News


Red Meat Exports Start 2014 on Positive Note

Tue, 11 Mar 2014 12:18:02 CDT

Red Meat Exports Start 2014 on Positive Note
U.S. beef, pork and lamb exports all opened the new year on a positive note, although market conditions suggest 2014 could be a challenging year for U.S. red meat exports, according to statistics released by the USDA and compiled by the U.S. Meat Export Federation (USMEF).


Beef exports continued the strong performance set in 2013, rising 13 percent in volume and 16 percent in value for the month, bolstered by double-digit growth to Mexico, Japan and Hong Kong. Pork exports rose 3 percent in volume and 2 percent in value for the month, driven by growth to Mexico, while lamb exports increased 7 percent in volume and 9 percent in value.


While price is just one of many factors that affect red meat trade, higher U.S. pork and beef prices will create challenges for American red meat exports in the months ahead, particularly in markets where customers are more price sensitive.


“In pork, there are a number of recognized challenges on the production side as well as unresolved access issues,” said Philip Seng, USMEF president and CEO. “In addition, we are also seeing increased competition in the form of higher marketing budgets and favorable prices for the EU, Brazil and Canada.”


Seng also noted that with U.S. beef production expected to drop 5 percent this year, and already running below last year’s levels, it will be challenging to maintain export levels.


Beef notes

Strong performances in the key markets of Mexico, Japan and Hong Kong, plus solid growth in Central/South America (Chile is the top destination, but with triple-digit growth to Colombia) offset a drop in exports to Canada (down 26 percent in volume and 21 percent in value), partially driven by the weaker Canadian dollar, as well as declines in the value of exports to the Middle East and volume to South Korea. In addition, the reemerging Indonesian market was the eighth-largest single-country destination by volume as exports continued the strong pace set back in October following improved market access conditions.


January exports of 97,824 metric tons (mt) were up 13 percent. Export value rose 16 percent year-over-year to $514.5 million. Exports accounted for 13 percent of total beef production (muscle cuts plus variety meat), and 10 percent of muscle cuts alone - increases of 2 and 1 percent, respectively. The export value per head of fed slaughter was $219.73, up $14.79 from last year.


Top-performing beef export markets in January were:

--Mexico: 20,228 mt (up 23 percent) valued at $93.6 million (up 27 percent)

--Japan: 15,655 mt (up 53 percent) valued at $92.9 million (up 28 percent)

--Hong Kong: 12,811 mt (up 83 percent) valued at $80.9 million (up 118 percent)

--Central/South America: 2,843 mt (up 26 percent) valued at $12.4 million (up 32 percent)
       --Chile: 975 mt (up 25 percent) valued at $4.7 million (up 26 percent)
       --Colombia: 369 mt (up 258 percent) valued at $1.3 million (up 243 percent)

--Indonesia: 1,741 mt (up 3,314 percent) valued at $4.6 million (up 879 percent)


Pork notes

Solid export growth to Mexico and the largest export volume to Japan since October 2012 helped push U.S. pork exports up 3 percent in volume (191,561 mt) and 2 percent in value ($535.6 million). Sales to the Hong Kong/China region were steady in volume versus last January, but rose 15 percent in value. The Central/South America region was up sharply, driven by triple-digit growth to Columbia, while both Oceania and the ASEAN region posted solid increases.


Pork exports accounted for 25.5 percent of total pork production and 21 percent of muscle cuts alone, up slightly from January of 2013. Export value averaged $54.70 per head, up $2.12 from last year.


Top-performing pork export markets in January were:

--Mexico: 59,825 mt (up 9 percent) valued at $113.2 million (up 10 percent)

--Japan: 39,069 mt (up 4 percent) valued at $163.4 million (down 6 percent)

--Hong Kong/China: 34,766 mt (even) valued at $82.7 million (up 15 percent)

--Central/South America: 11,284 mt (up 74 percent) valued at $29.1 million (up 79 percent)
       --Colombia: 4,732 mt (up 258 percent) valued at $12.4 million (up 270 percent)

--Oceania: 7,429 mt (up 16 percent) valued at $24.6 million (up 25 percent)
       --New Zealand: 1,085 mt (up 63 percent) valued at $3.3 million (up 62 percent)

--Caribbean: 3,138 mt (up 22 percent) valued at $7.3 million (up 14 percent)


Lamb notes

Lamb exports for January increased 7 percent in volume to 1,056 mt and 9 percent in value to $2.7 million. Mexico remains the top lamb destination, purchasing 913 mt valued at $1.5 million. The Caribbean, Canada and the Middle East follow in volume, although Central/South America is emerging as a market, largely driven by sales to Panama: 13 mt (up 550 percent) valued at $96,000 (up 243 percent).


Complete export results are available on the USMEF statistics webpage.



   

 

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