Beef exports soaring to nearly every region.
October was another excellent month for U.S. pork and beef exports, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Beef export value for October was $452 million, pushing the 2011 total to a new annual record of $4.49 billion. This is 37% ahead of the then-record pace established in the first 10 months of 2010.
“Establishing new annual value records just 10 months into the year is an extraordinary accomplishment, and one that the U.S. pork and beef industries should be very proud of,” says USMEF President and CEO Philip Seng. “Sustaining an aggressive export pace is critical for maintaining and creating American jobs and a positive balance of trade.”
October beef export volume was 10% higher than October 2010 and pushed the 2011 volume total 24% ahead of last year’s pace. October beef exports equated to 11% of beef muscle cut production and 13.9% of total production when including variety meat, which was consistent with the year-to-date ratio. This compares to 9% of beef muscle cut production and 11.7% of beef plus beef variety meat production exported last year. Exports equated to nearly $210/head of fed slaughter in October, pushing the 2011 total to $202.82/head. This is nearly $50/head higher than last year’s average of $153.09.
Despite being down slightly in October, Mexico remains this year’s leading volume destination for U.S. beef, up 6% over the first 10 months of 2010. Mexico was the export value leader in October at $85.3 million, pushing the 2011 total 25% higher than last year at $818.2 million.To see full article, click here.