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U.S. Beef Exports Steady; Pork Edges Higher from Previous Week

WeeklyUSBeefExports

U.S. beef exports for the week of Aug. 15-21 totaled 14,000 metric tons (mt), down 1 percent from the previous four-week average. Primary destinations were Japan (4,500 mt, -9 percent), Hong Kong (2,800 mt, +35 percent and the largest since May), South Korea (2,200 mt, +5 percent), Mexico (1,800 mt, -7 percent), Canada (1,000 mt, -34 percent) and Taiwan (630 MT, -18 percent).

Beef net sales of 10,600 mt were down 7 percent from the previous four-week average and were mainly reported for Mexico (2,500 mt, +300 percent and showing a rebound as round prices came off their recent surge), Hong Kong (2,100 mt, +66 percent with strong demand reported in the region), Korea (2,100 mt, +14 percent), Japan (1,700 mt, -71 percent), Canada (900 mt, -7 percent) and Taiwan (600 mt, +61 percent).

WeeklyUSBeefSales

U.S. pork exports totaled 16,200 mt, up 4 percent from the previous week (we can’t yet use the four-week average, until we get a few more weeks that include the additional volumes recently reported). Exports were primarily to Mexico (5,500 mt, -6 percent from the previous week), Japan (2,600 mt, -14 percent), Korea (2,000 mt, +111 percent), Canada (1,600 mt, -4 percent), Hong Kong (1,200 mt, -38 percent) and Australia (1,000 mt, +204 percent). No exports or sales were reported for China.

Pork net sales totaled 7,600 mt, as increases for Mexico (7,000 mt, -32 percent from the previous week), Korea (4,400 mt, +56 percent), Australia (3,000 mt, +545 percent), Japan (2,400 mt, -40 percent), Canada (2,300 mt, +34 percent) and Hong Kong (1,400 mt, -41 percent) were partially offset by a decrease for Russia (-15,700 mt). This zeroed out the outstanding sales for Russia.

Please note that percent changes for pork are from the previous week. But net sales in the previous report still included late reporting, so we caution that even the week-over-week comparisons can be misleading.

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.