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U.S. Beef Exports Open August on Solid Note; More Late-reported Pork Results

WeeklyUSBeefExports

U.S. beef exports for the week of Aug. 1-7 totaled 14,000 metric tons (mt), up 2 percent from the previous four-week average. Exports were mainly for Japan (4,600 mt, -7 percent), Hong Kong (2,200 mt, +16 percent), Mexico (2,000 mt, +1 percent), South Korea (1,900 mt, -5 percent), Canada (1,600 mt, +10 percent) and Taiwan (850 mt, +21 percent).

Beef net sales totaled 9,400 mt, down 23 percent from the previous four-week average, as large sales for Korea (3,200 mt, +128 percent) and Hong Kong (2,600 MT, +333 percent) were offset by smaller volumes for Japan (1,700 mt, -75 percent), Canada (800 mt, -35 percent), Mexico (600 mt, -57 percent) and Taiwan (203 mt, -43 percent).

WeeklyUSBeefSales

On the pork side, significant late-reported sales and exports from previous weeks were reported again this week, making comparisons with previous weeks meaningless. But as we noted last week, this will hopefully make the data more useful in the future.

Pork exports of 22,600 mt were primarily to Mexico (5,900 mt), Russia (5,200 mt), Japan (4,300 mt), Canada (1,800 mt) and Hong Kong (1,700 mt). Exports were also reported for Korea (1,000 mt) and a minimal volume for China (140 mt). Net sales totaled 30,300 mt including Russia (7,400 mt, including 2,600 mt late-reported), Japan (7,100 mt, including 1,600 mt late-reported), Mexico (5,000 mt, including 500 mt late-reported), Canada (5,000 mt, including 200 mt late-reported) and Korea (2,100 mt, including 100 mt late-reported). Net sales were also reported for Hong Kong (1,300 mt) and a minimal volume for China (240 mt).

Based on what USMEF has been able to gather from the weekly data, pork exports to Russia in July totaled about 12,000 mt, with an additional 5,200 mt shipped in August. Outstanding sales (sold but not shipped) as of the Aug. 7 market closure were 15,700 mt. Canada was also shipping large volumes of pork to Russia, which helps explain the recent decline in ham prices.

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.