U.S. Beef Exports Close Big First Half with Solid June Results
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If the trend established in the first six months of the year holds up, U.S. beef exports are likely to set several new records in 2011 and could eclipse the $5 billion mark for the first time ever. According to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF), contractor to the Beef Checkoff Program, June beef exports achieved the second-highest value ever at $461.8 million. This was 23 percent higher than June 2010, and has been surpassed only once – by the March 2011 value total of $475.2 million.
In terms of volume, June beef exports reached 245 million pounds – an increase of 15 percent over June 2010. This brought the cumulative 2011 total to 1.4 billion pounds valued at $2.55 billion, which was 25 percent higher in volume and 40 percent higher in value than last year’s pace. For the first half of this year, beef exports equated to 13.8 percent of total production with an export value of $192.42 per head of fed slaughter. The United States has also recaptured its position as the world’s leading beef exporter, outpacing Australia and Brazil.
North American markets lead U.S. beef exports, but Asia remains very strong
Tremendous June results in Mexico and Canada firmly established their positions as the No. 1 and No. 2 markets for U.S. beef. Demand for U.S. beef in Mexico continues to rebound, as exports through June were 8 percent higher in volume (278 million pounds) and 25 percent higher in value ($474.3 million) than in 2010. Canada was the value pacesetter in June with exports topping $96.6 million – a new monthly record. Cumulatively through June, exports to Canada were 23 percent higher than last year in terms of volume (192 million pounds) and 44 percent higher in value ($463.9 million).
June exports to Japan reached their highest monthly volume (38 million pounds) since 2003, pushing the 2011 total 50 percent higher in volume (170 million pounds) and 54 percent higher in value ($416.3 million). Other key Asian markets for U.S. beef have cooled somewhat from the red-hot pace set earlier this year, but the results remain very encouraging. Through June, exports to South Korea were 73 percent higher in volume (191 million pounds) than last year and 69 percent higher in value ($380.8 million). Hong Kong was up 82 percent in volume (58 million pounds) and 109 percent in value ($117.3 million).
Another sparkling growth region for U.S. beef is Central and South America, where USMEF recently conducted a product showcase for U.S. red meat, bringing U.S. exporters to Panama City to meet with buyers from 11 different Latin American countries. Through June, U.S. beef exports to the region were 51 percent higher in volume (28 million pounds) than last year and 71 percent higher in value ($35.2 million), led by strong growth in Chile, Peru, Colombia and Guatemala.
Beef exports to the Middle East also continued to post strong growth, with volume (176 million pounds) up 38 percent from last year and value ($153.7 million) running 51 percent higher.
For more information about your checkoff investment in foreign marketing programs, visit Foreign Marketing.
The Beef Checkoff Program was established as part of the 1985 Farm Bill. The checkoff assesses $1 per head on the sale of live domestic and imported cattle, in addition to a comparable assessment on imported beef and beef products. States retain up to 50 cents on the dollar and forward the other 50 cents per head to the Cattlemen’s Beef Promotion and Research Board, which administers the national checkoff program, subject to USDA approval.
Funded by the Beef Checkoff.
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