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US Beef Exports Performing Well in Japan

11 November 2016

US - September was another solid month for US red meat exports, with pork, beef and lamb totals well above year-ago levels, according to statistics released by USDA and compiled by the US Meat Export Federation (USMEF).

September beef export volume was 101,224 metric tons (mt) – down slightly from August, but 27 per cent above last September. Export value was up 17 per cent. For January through to September, export volume was 8 per cent above last year’s pace, but with export value down 5 per cent from a year ago.

“Red meat exports continued to build positive momentum in September, and it couldn’t come at a better time,” said Philip Seng, USMEF president and CEO.

“We have large supplies of pork and beef hitting the market and moving these higher volumes is certainly a challenge. But this is also presenting expanded opportunities in the international markets, as we are able to introduce new cuts and value-added products, and recapture market share from our key competitors.”

Mr Seng noted that while the upward trend in export volume is encouraging, it is also critical that exports contribute to carcass value and deliver returns for the entire supply chain. For example, per-unit values for pork exports have trended higher since June, and chilled beef exports to Asia are performing exceptionally well this year.

September beef exports were led by tremendous year-over-year growth in Japan (22,882 mt, up 49 per cent year-over-year) and South Korea (14,840 mt, up 75 per cent). Export value in these markets also surged, up 32 per cent in Japan ($132.1 million) and 83 per cent in Korea ($86.6 million).

Japan’s imports of US chilled beef surpassed chilled imports from Australia for the first time ever in September, and based on preliminary October data Korea’s total beef imports from the US also topped Australian beef.

 

TheCattleSite News Desk



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