U.S. beef exports for the week of Jan. 24-30 totaling 12,300 mt were steady compared to the previous three weeks, showing continued strong momentum for Japan (2,800 mt, +12 percent) and South Korea (2,800 mt, +18 percent). The explosion in round and clod prices hit exports to Mexico which fell 12 percent to 2,000 mt, while the Lunar New Year and large inventories of imported beef were behind a 13 percent decline to Hong Kong/Vietnam (1,900 mt). Exports to Canada fell 13 percent to 1,300 mt, due in part to a weak Canadian dollar. Exports to Taiwan fell 22 percent to 540 mt. (Note: Percent changes are from the previous three-week averages.)
Accumulated beef exports to Taiwan were adjusted downward by 618 mt, reflecting a correction in exports reported for the week ending Jan. 23. Exports for that week were initially reported at 978 mt and corrected to 360 mt.
Beef net sales for 2014 delivery totaled of 8,100 mt – 40 percent lower than the previous three weeks but up 25 percent from a year ago (the last week of January is seasonally slow). Net sales were mainly reported for Hong Kong (1,700 mt), Japan (1,600 mt), Taiwan (1,500 mt), South Korea (1,000 mt), Mexico (900 mt), and Canada (800 mt).
U.S. pork exports of 11,300 mt were 5 percent lower than the average of the first three weeks of January. Export were primarily to Mexico (4,000 mt, -8 percent), Korea (1,500 mt, -9 percent), Japan (1,500 mt, +2 percent), Canada (900 mt, -24 percent), Hong Kong (700 mt, -21 percent), and China (550 mt). Reported pork exports to China were the largest this year.
Pork net sales (6,600 mt) were 41 percent lower than the average of the first three weeks of January and were mainly reported for Mexico (2,600 mt), Korea (1,200 mt), Hong Kong (700 mt), Japan (500 mt), and Taiwan (300 mt).