Beef exports topped the $1 billion mark for the first time in August, despite shipping challenge

The U.S. exported 132,577 MT of beef during August, which represented a 21% year-over-year gain and was the second largest volume of the year, with the value of shipments 55% higher to a record $1.04 billion, according to USDA data analyzed by the U.S. Meat Export Federation (USMEF). Eight months into the year, the U.S. has exported 955,407 MT of beef worth $6.62 billion, a gain of 18% and 34%, respectively, compared with last year. Exports are running 6% ahead of the 2018 annual record in terms of volume and 20% in value.

“The August export results would be impressive under any circumstances, but achieving these totals despite all the Covid-related obstacles at home and overseas is truly remarkable,” said USMEF President and CEO Dan Halstrom.

U.S. beef exports to China topped 20,000 MT in August for the first time, and the value of that meat totaled $182.2 million, with USMEF pointing out that both the volume and value were more than five times the year-ago totals. “Beef exports to China have climbed steadily since early 2020, when market access barriers were greatly reduced under the U.S.-China Phase One Economic and Trade Agreement,” USMEF says. It adds that combined exports to China/Hong Kong so far this year shot 139% from year-ago to 154,353 MT, valued at $1.28 billion, up 148% from last year. Shipments of beef to Japan also hit their highest level for the year, with the country bringing in more chilled U.S. beef in response to strong retail demand and to limit shipping delays.

U.S. pork exports totaled 225,822 MT in August, up 4% from a year ago, and value increased 20% to $633.9 million, USMEF reports, as record shipments to Mexico and strong growth in several other markets helped offset the expected slowdown in muscle cut exports to China. Eight months into the year, U.S. pork exports are running 1.5% ahead of last year at just over 2 MMT. The value of that meat is up 10% from year-ago at $5.62 billion.

Halstrom commented that the “trendlines for U.S. pork are also very encouraging,” and noted that a few years ago it would have been an achievement to reach $6 billion in pork export value in a full year. This year, exports should hit that total with a full quarter to spare.

The U.S. exported a record 80,779 MT of pork to Mexico during August, which represented a 47% surge from year-ago and topped the December 2016 record. USMEF details, “exports are on a record pace, with January-August shipments 4% higher in volume and 12% higher in value when compared to 2017, the peak year for pork exports to Mexico.” USMEF also commented that Chinese demand for U.S. pork variety meat remains “extremely strong.”