Beef Exports Set New Annual Value Records

US - October was another excellent month for US pork and beef exports, according to statistics released by USDA and compiled by the US Meat Export Federation (USMEF).
calendar icon 13 December 2011
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Beef export value for October was $452 million, pushing the 2011 total to a new annual record of $4.49 billion. This is 37 per cent ahead of the then-record pace established in the first 10 months of 2010.

"Establishing new annual value records just 10 months into the year is an extraordinary accomplishment, and one that the US pork and beef industries should be very proud of," said USMEF President and CEO Philip Seng. "Sustaining an aggressive export pace is critical for maintaining and creating American jobs and a positive balance of trade."

Beef exports soaring to nearly every region; per-head value exceeds $200

October beef export volume was 105,912 metric tons. This was 10 per cent higher than October 2010 and pushed the 2011 volume total (1.073 million metric tons) 24 per cent ahead of last year’s pace.

October beef exports equated to 11 per cent of beef muscle cut production and 13.9 per cent of total production when including variety meat, which was consistent with the year-to-date ratio. This compares to nine per cent of beef muscle cut production and 11.7 per cent of beef plus beef variety meat production exported last year. Exports equated to nearly $210 per head of fed slaughter in October, pushing the 2011 total to $202.82 per head. This is nearly $50 per head higher than last year’s average of $153.09.

Despite being down slightly in October, Mexico remains this year’s leading volume destination for US beef at 213,004 (up six per cent over the first 10 months of 2010). Mexico was the export value leader in October at $85.3 million, pushing the 2011 total 25 per cent higher than last year at $818.2 million.

Canada held its position as the top value market for US beef in the first 10 months of 2011 at $861.9 million (a new annual record), up 46 per cent over the 2010 pace. Volume for the year is up nearly 30 per cent to 159,396 metric tons, also a new record. October results were impressive, with a volume of 14,175 metric tons valued at just under $74 million.

Japan is the third-largest individual market in terms of both volume (133,870 metric tons) and value ($726.9 million). These totals exceed last year’s pace by 30 per cent and 38 per cent, respectively. October export volume was down slightly from last year at 12,631 metric tons, but value was 13 per cent higher at $73.7 million.

Beef exports to South Korea maintained a very strong pace, pushing the 2011 volume to 129,810 metric tons (up 43 per cent from last year) valued at nearly $575 million up (36 per cent).

"The continued rebuilding of consumer confidence in US beef in both Japan and Korea is essential as these key markets recover sales volume and value that was lost in the post-BSE years," said Mr Seng. "The ‘We Care’ campaign in Japan and the ‘To Trust’ campaign in Korea have sown seeds that continue to yield positive results for the US industry."

Strong exports to Egypt helped push the Middle East to an impressive 2011 volume of 145,457 metric tons, valued at $287.7 million – increases of 39 per cent and 44 per cent, respectively, over last year’s pace and setting new annuals records for both volume and value.

Exports to Russia set a new value record at $222.3 million, which exceeds last year’s pace by 66 per cent. Strong export performance in Russia has allowed the United States to already fill its 2011 tariff rate quota for beef muscle cuts of 42,700 metric tons.

Exports to the Central and South America region have also set new annual volume and value records of 21,418 metric tons valued at $66.3 million, led by strong growth to Chile, Peru and Guatemala.

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