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Slow Week for U.S. Beef; Pork Exports Steady with Large Net Sales

Weekly-Beef-Exports

NOTE: Comparisons are difficult this early in the year. So unless otherwise noted, percent changes are year-over-year for beef, while the previous four-week average is used for pork.

U.S. beef exports for the week of Jan. 9-15 totaled 11,000 metric tons (mt), down 13 percent from the previous week and 9 percent lower year-over-year. Exports were mainly reported for Japan (2,800 mt, +11 percent), Mexico (2,000 mt, -13 percent), South Korea (2,000 mt, -8 percent), Hong Kong (1,800 mt, -23 percent), Canada (1,200 mt, -25 percent) and Taiwan (500 mt, +25 percent). For the first full two weeks of the year, accumulated exports were down 2 percent with larger exports for Japan (+28 percent) and Taiwan (+5 percent) offset by lower shipments for Hong Kong (-7 percent), Korea (-4 percent), Mexico (-13 percent) and Canada (-30 percent).

Weekly-Beef-Sales

Beef net sales were 9,600 mt, down 14 percent from the previous week and 33 percent lower year-over-year. Sales were mainly reported for Korea (2,400 mt, +3 percent), Mexico (2,100 mt, -42 percent), Hong Kong (1,900 mt, +70 percent)*, Taiwan (700 mt, +111 percent), Canada (700 mt, -42 percent) and Japan (670 mt, -84% percent). Accumulated net sales during the first two full weeks of January were down 31 percent, reflecting slower sales for all main destinations including Mexico (-1 percent), Korea (-30 percent), Hong Kong (-40 percent), Japan (-59 percent), Canada (-46 percent) and Taiwan (-7 percent). Outstanding sales, which include sales carried over from 2014, were down 14 percent from the same period last year.

*Last year large sales were reported for Hong Kong for the week ending Jan. 9, so this year’s sales are definitely off to a slower start and likely reflect the difficult transportation situation in Hong Kong.

U.S. pork exports totaled 16,300 mt, which was steady with the previous four-week average. Exports were mainly reported for Mexico (6,000 mt, -3 percent), Korea (3,500 mt, +14 percent), Japan (3,100 mt, -2 percent), Canada (1,600 mt, +17 percent) and Hong Kong (500 mt, -2 percent).

Pork net sales were 23,900 mt, up 57 percent from the previous four-week average and mainly reported for Mexico (11,200 mt, +70 percent), Korea (5,700 mt, +67 percent), Canada (3,300 mt, +340 percent), Japan (1,600 mt, -36 percent) and Hong Kong (600 mt, +74 percent). Pork exports and net sales for China have been minimal for the past three weeks.

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.