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Another New 2015 High for U.S. Pork Exports; Slow Week for U.S. Beef

Beef Exports

For the second week in a row, U.S. pork exports reached a new 2015 high. Exports for the week of March 20-26 totaled 22,700 metric tons (mt), up 14 percent from the previous four-week average and the largest since late October. While shipments edged lower for Mexico (6,900 mt, -2 percent), Japan (3,600 MT, -2 percent) and Australia (600 mt, -7 percent), exports increased for South Korea (3,600 mt, +8 percent), China (2,200 mt, +76 percent), Canada (1,400 mt, +9 percent), Hong Kong (970 mt, +153 percent), Colombia (800 mt, +59 percent), the Philippines (545 mt, +104 percent) and the Dominican Republic (540 mt, +170 percent).

Pork net sales of 28,300 mt were up 25 percent from the previous four-week average and the largest since late February. Sales were mainly reported for Mexico (9,800 mt, +23 percent), China (7,100 mt, the first significant sales reported in March), Japan (2,800 mt, -13 percent), Chile (2,100 mt, possibly a long-term contract), Canada (2,000 mt, +74 percent) and Korea (1,600 mt, -56 percent). Net sales for Hong Kong were just 260 mt, following 4,000 mt reported last week.

Beef Sales

U.S. beef exports totaled 11,800 mt, down 4 percent from the previous four-week average. Exports were mainly reported for Japan (3,400 mt, -15 percent), Hong Kong (2,800 mt, +10 percent), South Korea (2,000 mt, -1 percent), Mexico (1,500 mt, -2 percent), Canada (700 mt, -10 percent) and Taiwan (500 mt, -19 percent).

Following three relatively strong weeks, beef net sales plummeted to 5,300 mt, down 58 percent from the previous four-week average and the first time in nine months that sales fell below 6,000 mt. Net sales trended higher for Korea (2,300 mt, +15 percent) and Canada (600 mt, +12 percent) but were offset by slower bookings for Japan (1,100 mt, -76 percent) and Mexico (900 mt, -27 percent). Net sales were negative for Hong Kong (-500 mt) and Taiwan (-100 mt).

NOTES:

  • Source: USDA/FAS (includes exports and sales of whole muscle cuts).
  • Percent change is compared to the previous four-week average, unless otherwise noted.
  • Export is defined as an actual shipment from the U.S. to a foreign country.
  • Export sale is defined as a transaction entered into between a reporting exporter and a foreign buyer. Sales can be cancelled or adjusted in following weeks, thus “net” sales are reported as the difference between new sales and any cancelations or adjustments.