US beef export on growth

US beef export on growth

Beef exports totaled 105,486 t in January, up 9% year-over-year, while export value surged 21% to 624.4 mill. USD. Exports accounted for 12.4% of total beef production in January, up slightly from a year ago. For muscle cuts only, the percentage exported increased from 9.5% to 10.1%. Beef export value averaged 293.06 USD per head of fed slaughter, up 14% year-over-year.

For muscle cuts only, beef exports reached 80,495 t (up 15%) valued at 555.7 mill. USD (up 23%). Beef variety meat volume fell 5% to just under 25,000 t, but value increased 7% to $68.8 mill.

“January export results were solid overall and were especially strong for muscle cuts,” said USMEF President and CEO Dan Halstrom. “Despite the decline in variety meat volume, export value continued to increase. This underscores the important contribution variety meats deliver for producers and for everyone in the US supply chain.”

US beef continued to gain momentum in the Japanese market, with January exports increasing 7% from a year ago in volume (23,968 t) and 19% in value (148.6 mill.USD). This included a 30% increase in chilled beef exports to 12,411 t, valued at 92.4 mill. USD (up 38%). Frozen exports declined 13% in volume (8,141 t) but increased slightly in value (33.1 mill. USD). Frozen US beef entering Japan is subject to a 50% safeguard tariff, which is scheduled to revert back to 38.5% on 1 April, the beginning of the new Japanese fiscal year.

Source: USMEF