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Mixed Results for Mid-December Exports; Net Sales Strong

Weekly-Beef-Exports

During the last two full weeks (Dec. 12-18 and Dec. 19-25) of export sales reporting for 2014, U.S. beef exports plummeted even more than the seasonal trend. Exports were especially slow for the week of Dec. 19-25, totaling only 8,700 metric tons (mt) – down 31 percent from the previous week, 33 percent lower than the previous four-week average and 14 percent lower year-over-year. Exports slowed for all major destinations including Hong Kong (1,900 mt, -38 percent), Japan (1,900 mt, -33 percent), Mexico (1,500 mt, -24 percent), South Korea (1,400 mt, -44 percent), Canada (900 mt, -29 percent) and Taiwan (430 mt, -24 percent).

Weekly-Beef-Sales

Beef net sales for the week of Dec. 19-25 were surprisingly large at 9,200 mt, up 31 percent from the previous week, and nearly four times larger than a year ago. Net sales were reported for Japan (4,100 mt, +78 percent), Mexico (1,600 mt, -11 percent), Korea (1,300 mt, +10 percent), Canada (900 mt, +23 percent), Hong Kong (900 mt, -59 percent) and Taiwan (270 mt, -1 percent). Outstanding sales intended for delivery in 2014 were 54,334 mt, up 40 percent from a year ago. This suggests a large carry-over into 2015, especially for Japan (14,081 mt), Hong Kong (11,667 mt) and Korea (10,531 mt). Net sales for 2015 delivery were reported for Hong Kong (2,100 mt), Korea (300 mt) and Canada (200 mt).

U.S. pork exports remained strong for the week of Dec 12-18 at 21,000 mt, but slowed the following week to 13,600 mt – down 30 percent from the previous four-week average. Primary destinations were Mexico (5,100 mt, -24 percent following the strong previous week’s total of 8,547 mt), Japan (3,100 mt, -5 percent), Korea (2,400 mt, -19 percent), Canada (900 mt, -46 percent), Australia (500 mt, +17 percent), China (400 mt, -70 percent) and Hong Kong (350 mt, -64 percent).

Pork net sales for 2014 delivery totaled 15,415 for the week of Dec. 12-18, and remained relatively strong the week of Dec. 19-25 (13,400 mt, up 46 percent from the previous four-week average). Net sales were driven by Mexico (10,100 mt, the largest since October), with Korea (1,400 mt, +10 percent) and Canada (800 mt, +12 percent) also trending higher. Sales slowed dramatically for Japan (70 mt, -97 percent) and were also lower for Hong Kong and Australia. Large net sales for 2015 delivery were reported for the Philippines (24,700 mt), but were corrected in the subsequent report (see next article). Net sales for 2015 were also reported for Korea (3,700 mt), China (2,700 mt), Mexico (2,200 mt) and Japan (1,700 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.