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November US Beef Exports Strong

16 January 2012

US - November beef exports also performed well, reaching 105,268 metric tons valued at $456.25 million.

Beef exports were steady with the October 2011 volume and up slightly in value. On a year-over-year basis, November exports were up four per cent in volume and 17 per cent higher in value from the very strong totals recorded in November 2010. This boosted the January-November export total 22 per cent higher in volume than a year ago to 1.179 million metric tons, and up 35 per cent in value to $4.944 billion. When December results become available, beef export value will eclipse the $5 billion mark for the first time ever.

Beef export value nearly $220 per head in November, more than $200 for 2011

November beef exports equated to 14 per cent of total production when including variety meat, or 11 per cent for muscle cuts only. This was consistent with the 2011 average but up significantly from the 2010 ratios of 11.7 per cent for total production and nine per cent for muscle cuts. November exports equated to $219.73 per head of fed slaughter, up $41.50 from a year ago. For January-November, export value averaged $204.27 per head – more than $50 higher than the previous year’s average.

Beef exports to Canada posted another strong month, solidifying it as the leading value destination for 2011 and ensuring a $1 billion performance by year’s end. For January through November, exports to Canada totaled 174,122 metric tons (up 27 per cent) valued at $940.5 million (up 43 per cent).

Mexico is still the volume leader for US beef exports, despite a slight slowdown in volume in November. Export volume in November was down four per cent to 21,884 metric tons, but value still climbed 6 per cent to $84.6 million (trailing only Japan). For the year, exports to Mexico were up five per cent in volume to 234,888 metric tons and were 23 per cent higher in value to $902.8 million.

Japan was the leading value destination for US beef in November at $85.3 million, up nearly 40 per cent from a year ago. Export volume was 18 per cent higher at 14,312 metric tons. For the year, exports to Japan were up 29 per cent in volume to 148,182 metric tons and 38 per cent in value to $812.1 million.

November exports to South Korea, Hong Kong and the Middle East were all lower than a year ago, but all of these markets were still up solidly for the year. In fact, Hong Kong and the Middle East had already set new annual volume and value records in October.

Exports to Russia were also slightly lower in volume in November but more than 60 per cent higher in value. Russia had already set a new annual value record in October which has now reached $243.6 million. Led by surging exports to Chile, the Central-South America region has also set new records this year for both volume (23,340 metric tons, up 50 per cent) and value ($75 million, up 76 per cent).

"There is much to be excited about this year with regard to US beef exports," said USMEF President and CEO Philip Seng. "Not only are we going to break $5 billion for the first time ever, we are gaining back valuable market share in Asia and taking exports to new heights in other regions across the globe. Demand for US beef has never been greater, and this is generating a lot of momentum for 2012."

TheCattleSite News Desk



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