Beef Exports Grow, Pork Off To Fast Start

Beef exports increased a modest 2.5% in volume during January, while pork exports maintained a torrid pace into the new year, up 36% in volume.

Last year shattered records for pork exports, with 2.67 million metric tons, 10% higher than 2018. Pork export value reached $6.95 billion in 2019, also a record and a 9% increase over the previous year.  Exports accounted for 29.8% of total pork production, up significantly from January 2019’s 23.6%.

In January, pork export volume of 273,603 metric tons was up 36% year-over-year. Pork export value in January totaled $738.7 million, up 50% year-over-year.

Pork exports to China/Hong Kong continued on a blistering pace in January, easing somewhat from the record volume reached in December but still increasing 263% from a year ago to 97,002 mt and climbing 361% in value to $245.3 million. The year-over-year increase was even more astonishing for pork muscle cuts, which were up 814% to 76,281 mt, valued at $194.7 million (up 1,297%). January exports included a significant share of carcasses (boxed primals), which totaled 35,358 mt, up from zero last year. Exports of bone-in hams and shoulders were 7,750 mt, up 569%.

Beef export volume was 107,374 metric tons, a 2.5% increase year-over-year. Beef export value in January was $672.7 million, a 5% increase year-over-year. Exports in January accounted for 13.1% of total beef production, down slightly from 2019.

Beef exports to China in January reached 876 metric tons, up 7% year-over-year, valued at $6.5 million, up 4%. However, the market access gains included in the U.S.-China Phase One agreement have not yet been implemented. This agreement will significantly expand the percentage of U.S. beef eligible for export to China.

The January beef and pork export data were released by USDA and compiled by the U.S. Meat Export Federation. The report comes as coronavirus dominates the news, including those related to global trade.

USMEF President and CEO Dan Halstrom said the virus has had an impact on red meat exports, which will likely be more evident in February and March data, but a number of supply and demand fundamentals and market access improvements have underpinned continued strong export volumes.

“The first quarantine actions in China were taken in late January and the calendar had turned to February before coronavirus became a major health concern in countries such as South Korea and Japan,” Halstrom said. “But despite logistical challenges, a severe decline in tourism and a notable impact on sit-down dining, overall demand for red meat in these markets is quite resilient. Retail meat sales have remained strong and both retailers and restaurateurs are utilizing e-commerce and delivery services at unprecedented levels. While it’s definitely a challenging situation, the Asian food industry is adapting to these conditions and finding creative ways to accommodate consumers.”