Beef exports strong in July. Pork value squeezed by higher duties.

September 7, 2018 – The US Meat Export Federation (USMEF) is reporting that July exports of US beef and pork were higher than a year ago, according to data released by USDA and compiled by the USMEF.

hereford-cattle-

Export value results were mixed, with beef exports posting another near-record month while pork export value declined, reflecting the impact of retaliatory duties imposed by Mexico and China.

Led by another spectacular performance in South Korea and strong growth in Japan, Taiwan and Latin America, July beef exports climbed 12 percent in volume to 116,575 mt, valued at $722 million – up 16 percent from a year ago and just slightly below the May 2018 record of $722.1 million. For January through July, beef exports established a record pace in both volume (779,450 mt, up 10 percent year-over-year) and value ($4.76 billion, up 20 percent).

“The worldwide momentum for US beef has rarely been as strong as it is today,” USMEF President and CEO Dan Halstrom said. “To a large degree our mainstay Asian markets are driving this growth, but emerging markets in Asia and in the Western Hemisphere are also displaying a tremendous appetite for US beef and contributing significantly to the surge in export value. From high-end restaurants to convenience stores, US beef is gaining new fans across the globe on a daily basis.”

Comments are closed.