“Value of Pork Exports” Study Underscores Significance of USMEF Export Efforts...
The role and importance of U.S. pork exports to U.S. producers, and an analysis of how specific cuts of U.S. pork are valued internationally, were objectives of a “Value of Pork Exports” study conducted by the U.S .Meat Export Federation (USMEF).
“This study brings clarity to the value of the export premiums paid by customers in other countries in excess of U.S. prices,” said John Hinners, USMEF vice president of industry relations. “In addition, it provides us with an array of valuable information about where we have been and need to go regarding U.S. pork exports.
“Enhancing market intelligence, promoting to specific regions and the streamlining, which may be appropriate in our country-specific marketing programs are elements that can now be planned more strategically with confidence thanks to findings in the study,” added Hinners.
The study estimated total export premiums for 2004 were $270.6 million. It found the items generating the largest premiums for U.S. producers were belly with a volume of 61,000 metric tons (mt), loin at 129,485 mt, butt at 40,428 mt, tenderloin at 25,138 mt and picnic at 168,855 mt. Premiums for these five cuts represented 74 percent of the total export premium generated in 2004.
The study also estimated that in 2004 the U.S. exported the “pork equivalent” of 10.862 million hogs worth $22.64 more per head than their domestic counterparts.
To gather this information, a list of regularly-exported U.S. pork items was created and submitted to participating exporters who then provided their 2004 export data on volumes and premiums for the listed cuts.
USMEF consolidated and aggregated the data by cut to determine the percent of total exports per cut and the export premiums per pound. This collected data represented 55 percent of U.S. pork and pork variety meat exports in 2004 and was extrapolated to estimate total U.S. volumes and values. The factual evidence gathered in this study provides verification supporting the competitive nature of U.S. pork in the global marketplace.
“USMEF continually works to provide information that will benefit the export of U.S. pork,” said Hinners. “This study was conducted to determine and focus in on beneficial marketing strategies for different countries by looking at U.S. export volume by cuts.”
Additional details of the study will be presented during the USMEF Board of Directors meeting May 24-26 in Las Vegas, Nev.
The U.S. Meat Export Federation is the trade association responsible for developing international markets for the U.S. red meat industry and is funded by USDA, exporting companies, and the beef, pork, lamb, corn, sorghum and soybean checkoff programs.
– USMEF –