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U.S. Beef Exports Remain above Year-ago Levels; Big Week for Pork Net Sales

Weekly-Beef-Exports

U.S. beef exports for the week of March 21-27 totaled 12,200 mt, down 4 percent from the previous four-week average. But beef exports have been higher than year-ago levels in three of the past four weeks, with strong volumes for Hong Kong, Mexico and Korea. Exports were primarily for Japan (3,700 mt, -1 percent), Hong Kong (2,600 mt, +22 percent), Mexico (2,200 mt, -4 percent), South Korea (1,700 mt, -8 percent), Canada (600 mt, -23 percent) and Taiwan (400 mt, -41 percent).

Weekly-Beef-Sales

Beef net sales of 13,800 mt were down 6 percent from the previous four-week average, but net sales have outpaced last year for each of the past three weeks. Net sales were mainly reported for Japan (5,500 mt, +16 percent), Hong Kong (2,900 mt, -7 percent), Mexico (1,700 mt, +2 percent), Korea (1,600 MT, -36 percent), Taiwan (800 mt, +42 percent) and Canada (700 mt, -16 percent).

U.S. pork exports of 11,500 mt were up 4 percent from the previous four-week average and were primarily to Mexico (3,900 mt, steady), Korea (1,800 mt, +12 percent), Japan (1,300 mt, +1 percent), Hong Kong (1,100 mt, +28 percent), Canada (700 mt, -24 percent) and China (620 mt, +14 percent).

Although the weekly pork data still cover only a small portion of the business, it appears that exports and net sales are holding up well – even with very high prices. Pork net sales of 13,600 mt were up 91 percent from the previous four-week average and the largest since February. Net sales were mainly reported for Mexico (6,700 mt, also the largest since February), Hong Kong (2,600 mt, the largest since September), Korea (1,100 mt, +31 percent), Japan (1,000 mt, -29 percent) and China (800 mt, the largest since February).

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