Strong US pork and beef exports confirmed by June results for first half of 2017
US beef exports saw an increase of 11% in June from a year ago to 109,554 metric tons (mt), and export value increased to 602.5 million dollars, up 10%. First-half export volume increased by 12% to 606,876 mt, while value also grew 15% to 3.35 billion dollars compared to the first half of last year.
In June, beef exports represented 13% out of total beef production and 10% for muscle cuts only (each about even with a year ago). For the first six months of 2017, the ratios were the same, which was also steady with the similar period of 2016. USMEF added that "Export value per head of fed slaughter averaged $264.51 in June, up 6 percent from a year ago. Through June, per-head export value was up 8 percent to $269.21."
In June, pork exports were up 6% from a year ago, reaching 200,229 metric tons (mt) and export value has increased 4% to 527.1 million dollars. Regarding the first half of 2017, the largest June volume on record resulted in an increase of the first-half total to 1.25 million mt valued at 3.21 billion dollars (up 13% and 16%, respectively).
Out of the whole pork production in June, exports increased with more than 1% from the previous year and represented 27% and 22% for muscle cuts only (steady with last year). According to USMEF, both ratios saw a significant increase from a year ago, as production stood at a record pace."The percentage of total production jumped from 25.3 percent to 27.8 percent, and for muscle cuts the increase was from 21.4 percent to 23 percent. Export value per head slaughtered in June was up 1 percent to $53.41 and the first-half average increased 12 percent to $54.09."
“In this time of large red meat production, the upward trend in per-head export value and in the percentage of production exported is especially critical to the industry,” said USMEF President and CEO Philip Seng. “These metrics confirm that we’re not simply exporting more red meat because more is available – those exports are also generating excellent returns. It was also gratifying to see that the U.S. trade deficit narrowed in June due to an expansion of exports, knowing that the red meat industry made another solid contribution toward that effort.”
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