According to USDA data compiled by the U.S. Meat Export Federation (USMEF), July beef exports of 99,341 MMT were up 8% from year-ago and were the second-largest tally of the year. But at $526.7 million, beef export value for the month dropped 5% from year-ago. Meanwhile, July pork exports of 180,547 MT were up 8% from year-ago and were valued at $491.9 million, up 11% from year-ago.
Year-to-date beef exports of 640,888 MT are running 4% above year-ago, but are valued at $3.44 billion, down 10% from year-ago. USDA projects beef exports in 2016 to rise by 8.1% from year-ago. Year-to-date pork exports of 1.29 MMT are up 3% from year-ago and are valued at $3.27 billion, 2% below year-ago. USDA projects pork exports in 2016 to rise by 7.3% from year-ago.
USMEF says Japan and South Korea continue to be the top performers for U.S. beef, driven by strong demand for chilled beef. Year-to-date beef exports to Japan are up 12% from year-ago, with exports to South Korea up 23% from year-ago.
Meanwhile, U.S. pork exports to Mexico in July were down 6% from the previous year but were valued at $113 million, an increase of 15% due to higher ham prices. U.S. exports of chilled pork to Japan remain on a record pace. However, July pork exports to China/Hong Kong were the smallest since February. "While it is encouraging to see the strong results in China/Hong Kong continue, the reality is that China’s domestic pork prices have fallen and import demand has slowed,” says Philip Seng, USMEF president and CEO. “That’s why it is so vitally important that we defend U.S. pork’s market share and further expand demand in markets around the world. The competitiveness of U.S. pork is also improving, and this should boost exports through the end of the year.”"