U.S. beef exports for the week of June 27-July 3 totaled 15,500 metric tons (mt), up 6 percent from the previous four-week average. Volumes were strong for Japan (5,500 mt, +24 percent and the second-largest total this year), Mexico (2,200 mt, +9 percent) and Taiwan (1,050 mt, +51 percent and the largest of 2014), while exports slowed for South Korea (2,000 mt, -9 percent), Hong Kong (1,900 mt, -18 percent and the smallest since March) and Canada (1,700 mt, -3 percent).
Beef net sales of 17,900 mt were up 58 percent from the previous four-week average, reflecting a strong performance from Japan (9,500 mt, +1246 percent after corrections and cancellations in recent weeks). Net sales were also larger for Mexico (2,400 mt, +25 percent) but slowed for Hong Kong (2,100 mt, -39 percent), Korea (1,700 mt, -12 percent), Canada (800 mt, -30 percent) and Taiwan (340 MT, -63 percent).
Weekly data show accumulated U.S. beef exports during the first half of 2014 were within 1 percent of last year. Outstanding sales (sold, not yet shipped) were up 16 percent from the same period in 2013. As we have previously noted, discrepancies exist between the weekly and monthly data for many reasons. In April and May, the weekly data significantly understated actual exports when compared to monthly data from the Department of Commerce. This is not unusual, with the biggest discrepancies (underreporting) being for Mexico and Canada. So, exports have likely held up even better than what is indicated in the weekly data.
U.S. pork exports for the week totaled 10,400 mt, up 8 percent from the previous four-week average, with larger volumes for Mexico (4,300 mt, +12 percent), Japan (1,700 mt, +8 percent), Hong Kong (800 mt, +43 percent), and China (400 mt, +34 percent). Exports slowed for Canada (1,200 mt, -1 percent) and Korea (400 mt, -41 percent).
Pork net sales of 8,900 mt were down 19 percent from the previous four-week average and were mainly reported for Mexico (3,900 mt, -18 percent), Japan (1,300 mt, -21 percent), Canada (800 mt, -58 percent), Korea (700 mt, +51 percent), China (500 mt, +126 percent) and Hong Kong (500 mt, -52 percent).