CME: August Beef Exports Above Year Ago Levels28 October 2013
US - Beef exports declined from July’s level but remained well above year-ago levels in August, write Steve Meyer and Len Steiner.
Total beef exports amounted to 79,674 metric tons, 9.9 per cent less than one month earlier but 7.6 per cent more than in August 2012. Year-to-date beef exports now stand at 559,998 metric tons 3.2 per cent higher than last year. As can be seen below, August marks the fourth straight month and the fifth so far in 2013 in which beef exports have been higher than one year earlier.
The year-to-date pace through August still trails 2011’s record Jan- August pace of 618,380 metric tons by roughly 10 per cent. Shipments to Japan continue to perform well with August gaining 32 per cent versus one year ago and YTD shipments up 50 per cent from 2012 at 147,889 metric tons. Exports to Mexico were up 29 per cent from one year ago in August.
August’s beef exports were valued at $499.09 million, 16.6 per cent higher than one year ago and record high for August. That figure brings the year-to-date value of U.S. beef exports to a record $3.528 billion, 10.6 per cent higher than one year ago. Higher U.S. beef prices do not seem to be putting much of a damper on exports relative to 2012. Japan remains our largest-value beef market, taking ,$844.8 million of beef cuts through August. That figure is up 34 per cent from 2012.
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