US beef sector ends 2020 "en fanfare"
US beef exports posted one of the best months on record in November, according to data released by USDA and compiled by the US Meat Export Federation (USMEF). November was also a strong month for pork exports, which already surpassed the full-year volume and value records set in 2019.
November beef exports totalled 115,337 tonnes, up 6% from a year ago and the largest since July 2019. Export value climbed 8% year-over-year to $707.5 million. Through November, exports were 6% lower year-over-year in volume (1.13 million tonnes) and down 7% in value ($6.9 billion). November beef muscle cut exports were the third largest on record at 91,338 tonnes (up 13%, trailing only July and August 2019), valued at $630.4 million (up 11%). January-November muscle cut exports were 3% below 2019 in volume (883,012 tonnes) and 6% lower in value ($6.11 billion).
Beef export value averaged $338.43 per head of fed slaughter in November, up 10% from a year ago and the highest since April. The January-November average was $298.01, down 3% from a year ago. Exports accounted for 14.8% of November beef production and 12.6% for muscle cuts only, each up significantly from a year ago (13.7% and 11%, respectively). January-November exports accounted for 13.3% of total beef production and 11.1% for muscle cuts, down from 14.1% and 11.4%, respectively, in 2019.
"Demand for U.S. beef in the global retail sector has been outstanding and we expect this to continue in 2021. Unfortunately, foodservice continues to face COVID-related challenges. We expect a broader foodservice recovery this year, especially from mid-2021, but will likely still see interruptions in some markets," commented Dan Halstrom.
Beef exports to China continued to reach new heights in November at 8,372 tonnes, up 700% from a year ago, with value up 642% to $60.1 million (by comparison, exports to China for all of 2019 totalled $86.1 million). For January through November, exports to China totalled 33,081 tonnes (up 277% year-over-year) valued at $237.8 million (up 239%). Shipments to China have trended higher since the March implementation of the US-China Phase One Economic and Trade Agreement, but have been especially strong since the mid-summer rebound in China’s foodservice sector. The US is now the largest supplier of grain-fed beef to China, with US grain-fed volumes surpassing Australia’s monthly shipments since September.
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