New Markets for Beef Variety Meat Aiding US Export Growth
US - US red meat exports posted solid results in July, with volumes for US beef trending higher than a year ago, according to statistics released by USDA and compiled by the US Meat Export Federation (USMEF), contractor to the beef checkoff. Beef export value was, however, down from last July.
13 September 2016
2 minute read
July beef-export volume increased 8 per cent from a year ago to 219 million pounds – the second-largest monthly total this year – while export value was $526.7 million, down 5 per cent year-on-year. For January through July, export volume was up 4 percent to 1.4 billion pounds, while value fell 10 percent to $3.44 billion.
Exports accounted for 14 per cent of total beef production in July and 11 percent for muscle cuts only – each up about 1 percentage point from a year ago. For January through July, these ratios were 13 percent and 10 percent, respectively, steady with last year.
Export value per head of fed slaughter was $263.89 in July, down 5 per cent from a year ago, and $251.82 for January through July, down 13 per cent.
Beef exports shine in Japan, Korea; Taiwan remains steady
Japan and South Korea continued to be top performers for US beef in July, driven by strong demand for chilled beef. In Korea, January to July exports climbed 23 per cent in volume.
Chilled US beef is also in high demand in Taiwan, where July exports held relatively steady year-over-year. The United States holds more than 65 per cent of the chilled beef market in Taiwan – the highest share of any Asian market.
Highlighting the need for more destinations for beef variety meat (offal), exports to Egypt continued to slump in July, but overall US beef variety meat exports increased in July.
“We are pleased to see demand for US beef variety meats increasing in other markets and helping to offset the slowdown to Egypt,” said Philip Seng, USMEF president and CEO. “It is a top priority for USMEF and our beef industry partners to expand the reach of beef variety meat exports and build demand in alternative destinations, and those efforts are paying off.”
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