Large adjustments made to beef net sales
Net sales reductions of 18,500 mt resulted as corrections were applied to the data released last week, which covered the three-week period when data collection was suspended during the government shutdown. It appears that net sales for this period were essentially double-reported.
If we average the new four-week total, net sales averaged 9,240 mt per week about half of what was originally reported. Decreases (adjusting net sales lower) were for Hong Kong (6,300 mt), Mexico (6,000 mt), Japan (3,300 mt), Chile (900 mt) and Taiwan (600 mt). The new averages for net sales were down 25 percent compared to September – higher for Korea (+23 percent) and Taiwan (+27 percent) but lower for the other main markets. But the trends are still not entirely clear due to the government shutdown and data lapse.
Pork exports, net sales post solid results
Pork exports for Oct. 25-31 totaled 12,300 mt, the largest since August and 40 percent above the weekly average for the period covering the government shutdown. Exports were mainly to Mexico (3,300 mt), Honduras (2,000 mt), Hong Kong (1,400 mt), Japan (1,300 mt) and Canada (1,000 mt).
Pork net sales of 12,700 mt were also up strongly from the previous three weeks and were primarily reported for Mexico (5,100 mt), Honduras (1,900 mt), Japan (1,400 mt), Korea (1,200 mt) and China (500 mt). But given the lapse in reporting during the shutdown and the usual challenges with pork data (as noted below), we caution USMEF members not to read too much into this week’s report.
- Percent change is compared to the previous four-week average, unless otherwise indicated.
- Mandatory pork export sales reporting is still in its early stages and the data represent less than 40 percent of chilled/frozen pork exports, so it is not yet representative of actual volume.
- Weekly data only includes exports and sales of whole muscle cuts, reported by the exporters to USDA/FAS Export Sales Reporting.