New record for US beef export value in 2017
Beef exports totaled 1.26 million metric tons (mt), up 6 percent from 2016. This was the fourth-largest volume on record and the second-largest of the post-BSE era. Beef export value reached $7.27 billion, up 15 percent year-over-year and 2 percent above the previous high achieved in 2014 ($7.13 billion).
“This was a remarkable year for beef exports, in our mainstay markets in northern Asia as well as emerging destinations in South America, Southeast Asia and Africa,” said USMEF President and CEO Dan Halstrom. “The U.S. beef industry gained significant market share in Japan despite considerable obstacles, and posted a record-breaking performance in South Korea and Taiwan. These markets are especially critical for chilled beef exports, which were up about 25 percent year-over-year. This had a tremendous impact on carcass value.”
For December only, beef export value was up 9 percent from a year ago to $672.9 million – the second-highest of 2017 and the third-highest on record. December volume was down 3 percent from a year ago to 113,269 mt.
Beef exports accounted for 12.9 percent of total production in 2017 and 10.4 percent for muscle cuts only, down from 13.7 percent and 10.5 percent, respectively, in 2016. Beef export value averaged $286.38 per head of fed slaughter, up 9 percent from 2016 and the second-highest on record, trailing only the $300.36 average posted in 2014.
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