US exports continue to see strong growth in Asia

10-Aug-2014 - Last updated on 12-Aug-2014 at 09:48 GMT

US beef exports hit a new monthly value record of $631.7m

Related tags Pork exports Meat Beef Lamb Pork

US beef and pork exports continued to climb in June, with strong growth in Japan and Korea.

According to the latest figures released by the US Department of Health (USDA), and compiled by the US Meat Export Federation (USMEF) export value for both pork and beef rose at a record pace in the first half of 2014.

Pork exports stood at 181,531 metric tons (mt) in June - an increase of 7% on a year ago, while their value increased 25% to $585.1m. The half year figures put volumes at 1.15mt - up 9%, and value at $3.4bn - an increase of 17%.

Asia continued to increase its share of US pork exports. Despite Russia’s ban on European pork exports resulting in a more competitive Asian market, the US said pork still achieved first half increases in South Korea and Japan, with exports to Korea up 31% to 77,209mt in the first half of the year, and pork muscle cuts to Japan up 3% to 213,653mt.

Exports to Mexico were also strong, with volumes in the first half of the year increasing 15% in volume (333,072mt), and 42% in value ($751.6m). The Russian market has continued to cause problems though, as after a short reprieve on pork exports in March - following a 13-month ab sense - when two slaughter houses resumed shipments, the market has now closed again following the implementation of Russia’s import ban, effective 7 August.

Beef achieved a 5% increase in volume to 106,609mt in June, and also set a new monthly value record of $631.7m - up 12% after the value per head of fed slaughter hit a new record of $299.14 in June. During the first six months of 2014 export value also set a new record, increasing 16% to reach $3.27bn, while volumes rose 8% to 585,953mt.

Exports to Hong Kong increased 55% in volume to 71,829mt and a massive 76% in value ($492.m), with US beef regaining full access to the region in mid-June - a result which will see ground beef and processed meat added to the eligible list for exports.

Exports to Mexico rose 30% in volume to 116,337mt, and 11% in Korea, to 56,478mt.

Philip Seng, chief executive, USMEF, said: "USMEF has focused for many years on establishing loyal customers in these markets and impressing upon them the quality and consistency of US pork. That loyalty is being tested in this increasingly competitive environment, but our results have held up very well."

He added: "Seeing beef export value per head approach $300 is really remarkable. Just four years ago, export value was about $150 per head and we broke $200 per head for the first time in 2011. This shows just how important the international markets are for delivering strong returns to the producer."

US lamb exports increased 2% in value to $2.6m, despite a 30% drop in volumes exported to 986mt.