August Beef Exports Soar to New Heights; Pork Export Value Still under Pressure
U.S. beef exports set new records in August with export value topping $750 million for the first time, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). August pork exports were fairly steady with last year’s volume, but retaliatory duties in key markets continued to pressure pork export value.
August beef exports totaled 119,850 metric tons (mt), up 7 percent from a year ago, valued at $751.7 million – up 11 percent year-over-year and easily exceeding the previous record of $722.1 million reached in May 2018. For January through August, beef exports totaled 899,300 mt, up 9 percent from a year ago, while value climbed 18 percent to $5.51 billion.
For the third consecutive month, beef muscle cut exports set a new volume record in August at 95,181 mt (up 9 percent from a year ago), valued at $679.6 million (up 13 percent). Through August, muscle cut exports were...Full Story »Oct 9 9:05 AM, General News