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ANALYSIS: Turkey Export Volume Expands MoM Stride

By most accounts, April marked the continuation of a general improvement in year-over-year (YoY) turkey export throughput which has been playing out since June of 2023. Total holdings through month’s end touched on about 40.9 million pounds which marks an 18.5% YoY advance. Despite this significant leap, April’s ending tally is still positioned 2.3 million pounds shy of the seasonal 5-year average. As for the comparative monthly data, total outward volume during the month rose by 11.3%. This uptick is a stark contrast to the average 4.9% reduction observed...

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Jun 13 8:00 AM, Urner Barry



April Pork Exports Largest in Nearly Three Years; Beef Exports Also Trend Higher

April exports of U.S. pork reached the highest volume and value since May 2021, according to data released by USDA and compiled by USMEF. It was also a robust month for U.S. beef exports, which were the largest in 10 months and valued at just under $900 million.

Fueled by a record performance in leading market Mexico, pork exports totaled 277,910 metric tons (mt) in April, up 14% from a year ago and the fifth largest on record. Export value climbed 18% to $778.8 million

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Jun 11 8:43 AM, Urner Barry


ANALYSIS: China’s May 2024 Meat Imports Slip 3.35% Y-O-Y Over Weak Consumption

Preliminary custom statistics showed that China’s May 2024 meat imports (including entrails) were recorded at 557,000 mt, the latest General Administration of Customs People's Republic of China data indicated. 

Imports rose 2.39% m-o-m from April 2024’s 544,000 mt. Market players believed this increase was largely driven by the influx of Brazilian material. On 12th March 2024, China approved the addition of 38 new production plants to receive imported meat from Brazil, leading to an increase...

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Jun 7 1:37 PM, Urner Barry


ANALYSIS: Brazil's Beef Exports Reach Record Highs in May, China's Shares Decline

Brazil has achieved a historical record in beef exports as of May 2024, exporting an unprecedented 211,976 MT of beef. This represents an increase of 1.9% from the previous month and a surged 25.9% when compared to the same period last year. On a YTD basis, the total volume is up by 16.7%.

China remains the leading importer, purchasing 97,876 MT of Brazilian beef in May. However, this figure is slightly lower than April's 101,023 MT ,a 3.1% decrease,  and corresponds to an 11.8% decline compared...

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Jun 7 10:28 AM, Urner Barry


ANALYSIS: Australia's May 2024 Meat Exports Soar to Record Highs

Australia’s May 2024 total meat exports hit a record high, reaching a total of 200,188 mt of meat, including beef/veal, mutton, lamb, and pork, data from the Department of Agriculture, Fisheries, and Forestry (D.A.F.F) indicated. Volumes surpassed record highs last seen in October 2019 at 189,895 mt.

Volumes on a year-on-year basis jumped 22.0% or 36,122 mt. Exports grew 9.6% or 17,441 mt after a 4-month consecutive rise.

The country’s beef/veal exports for May 2024 jumped 24.5%...

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Jun 7 8:12 AM, Urner Barry


Pork Producers One Step Closer to Certainty as Bipartisan Solution for Prop. 12 Clears 

The National Pork Producers Council (NPPC) is pleased to announce the U.S. House Agriculture Committee has passed their 2024 Farm Bill, which supported all of producer’s farm bill requests, including a federal fix to the host of Prop. 12 issues plaguing producers and consumers.

“The 2024 Farm Bill is a golden opportunity to address a top issue for pork producers across the country – California Prop. 12 – and I’m pleased to see the U.S. House Agriculture Committee seize the opportunity to stop a potential

 

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May 24 10:17 AM, Urner Barry


ANALYSIS: Australian Beef Imports Maintain the Top Spot

The USDA Agricultural Marketing Service's weekly report on Imported Meat Passed for Entry in the U.S. by Country sheds light on the ongoing dynamics in the beef import market. With domestic 90% Fresh Chemical Lean prices remaining historically high (Chart 1), it is no surprise that the volume of fresh beef boneless trimmings imported to the U.S. has reached levels unseen since 2015. Year-to-date (YTD) import shipments are pegged at 253,464 metric tons (MT), 31% above the 10-year average...

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May 23 8:00 AM, Urner Barry


ANALYSIS: Tapering Turkey Hatch Sets Production Tone

With trade activity continuing to fall to the sluggish end of the seasonal continuum, and given the ongoing uncertainty related to variables such as disease, turkey market participants are facing more questions than answers when it comes to the future potential of the complex. While the road ahead remains anything but a clear read, there are some forward-facing indications on the production front which might hint at the road which lies ahead. Despite the relatively average costs associated with corn and soybean values, lackluster demand patterns and the aforementioned threat...

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May 23 8:00 AM, Urner Barry


ANALYSIS: China’s Beef Imports Hit Lowest in April Since Start of 2024 Amid Sluggish Demand

China’s April 2024 beef imports plummeted to its lowest point since the start of the year, shedding 7.7% month over month or 18,718 mt to 224,402 mt, the latest General Administration of Customs People's Republic of China data indicated.

By virtue of its population, China is the world's second largest beef market after the US, with most of the growth led by affluent urbanites. In recent years, the beef market has been further boosted by the rapid growth of the 'quick commerce' sector, which 

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May 22 8:08 AM, Urner Barry


USDA Awards $300 Million to Diversify Export Markets for U.S. Agriculture

Agriculture Secretary Tom Vilsack announced today that the U.S. Department of Agriculture is allocating $300 million to 66 U.S. organizations, under the new Regional Agricultural Promotion Program (RAPP), to build demand for American food and farm exports in high-potential markets around the globe.

Secretary Vilsack launched RAPP in October 2023, authorizing $1.2 billion in Commodity Credit Corporation funding to help U.S. exporters expand their customer base beyond traditional and established markets, focusing on regions such as Africa, Latin America and...

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May 22 8:00 AM, Urner Barry


USMEF Statement on Regional Agricultural Promotion Program Funding Allocations

On May 21, U.S. Secretary of Agriculture Tom Vilsack announced funding allocations for the Regional Agricultural Promotion Program (RAPP), which utilizes Commodity Credit Corporation (CCC) funds to diversify export markets for U.S. agricultural products.

U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom issued the following statement:

USMEF is honored to participate in RAPP and we thank Secretary Vilsack and the staff at USDA for their vision and leadership in implementing this program. The additional investment in foreign market development is very timely...

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May 21 1:31 PM, Urner Barry


American, Mexican, and Canadian Cattle Producers Sign Joint Statement Raising Brazilian Beef Concern

Today, leaders of the National Cattlemen’s Beef Association (NCBA), Confederación Nacional de Organizaciones Ganaderas (CNOG), and Canadian Cattle Association (CCA) signed a joint statement to continue advocating for greater oversight of emerging lab-grown proteins, protecting cattle from animal diseases, and promoting the sustainability of the cattle industry. This action builds on the recent statement signing with Cattle Australia and furthers the international partnerships between cattle producers.

“The signing of this joint statement is an important step that unites cattle producers across North America...

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May 17 8:00 AM, Urner Barry


ANALYSIS: Checking-In on Turkey Market Supply Factors

Although mid-May trade conditions have been slow to shift the undertone surrounding whole-body turkeys and raw materials, there is no shortage of variables which are weighing heavily on the minds of market participants as they refine their expectations for the road ahead. Central to many turkey-related conversations remains disease.

As illustrated by this week’s chart, year-to-date (YTD) commercial HPAI outbreaks have risen about 84%, or 229.6 thousand head, when compared to a similar period one year prior...

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May 16 8:05 AM, Urner Barry


ANALYSIS: Brazilian Beef Export Volumes Show a Robust 25% Monthly Growth in April

Despite the general sentiment of a softened market from key export destinations for the Brazilian beef, exports in April demonstrated a significant upturn, with total fresh beef exports reaching 208,053 MT, a 25.1% increase from previous month’s 166,303 MT. The significant rebound in export figures from March have surprised some stakeholders given the persistent talk about a subdued demand and pressured prices. Particularly from the Chinese market, a major trading partner of Brazil.

April’s overall market undertone diverged by some means from the increased export figures...

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May 14 8:00 AM, Urner Barry


ANALYSIS: Factors Influencing Mexican Ribeye Export Levels

The Mexican market has recorded its lowest export levels to the US in the last five years during 2024, primarily due to the strength of the peso in the exchange rate and increased demand in the Mexican domestic market. Despite this, the limited availability of materials in the USA has sustained interest in Mexican ribeyes.

Throughout the year, export price trends have mirrored those in the US market, particularly with select-type materials. Notably, this cut has shown remarkable price stability, maintaining consistent demand and demonstrating robust performance in the first quarter of...

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May 14 8:00 AM, Urner Barry


ANALYSIS: Impacts of Prop 12 Shape Memorial Day Outlook for Pork Ribs, Bacon and Butts

Memorial Day is traditionally celebrated as one of the major pork holidays each year. Ribs, bacon, and butts are all beloved staples of this popular weekend that marks the official start of summer. However, this year presents a unique situation due to rebounding cold storage levels post prop 12 proclamation, sow liquidations, and economic uncertainty, unlike the past few years.

The current values for bone-in butts show an increase of 3.9% compared to this time last year, and they are also 10.4% above the...

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May 14 8:00 AM, Urner Barry


DOA: Australian Government Phase Out of Live Sheep Exports by Sea

Decision on how and when

The Australian Government has announced the export of live sheep by sea will end on 1 May 2028.

Legislation will be introduced in this term of the Australian Parliament to end the trade in law.

Trade can continue until the end date without any additional restrictions such as caps or quotas. The prohibition will not apply to other livestock export industries, such as live cattle exports, nor will it apply to live sheep exports by air...

 

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May 13 12:16 PM, Urner Barry


ANALYSIS: Global Price Overview– Beef Knuckles

Urner Barry offers comprehensive beef price coverage across the world's largest markets. This analysis examines a popular cut, the knuckle, which is traded in different global regions. The report explores market conditions and price trends for knuckles, a round cut utilized in various applications such as processed steak items, ground beef production and for slicing and dicing.

To access the full range of Urner Barry's market insights, refer to our prices and market commentary. This includes coverage for U.S. Choice, Select, and Ungraded Boxed Beef, as well as U.S. Boneless Beef markets...

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May 10 3:14 PM, Urner Barry


Analysis: Rising Demand for U.S. Boneless Pork Butt in South Korea

Upon analyzing the USDA's year-to-date export data, there is a noteworthy increase of 70.6% in total weekly U.S. pork export volumes to South Korea compared to this same period last year. These exports have primarily consisted of pork butt items.

Conversely, year-to-date total beef exports to South Korea have decreased by 5.4% from the previous year. Elevated U.S. beef prices have led to a reduction in weekly export volumes to South Korea.

With dwindling pork supplies in the European market and high U.S. beef prices...

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May 10 10:31 AM, Urner Barry


ANALYSIS: March's Turbulent Tradewinds in Chicken Exports

The latest chicken export data through the end of March leaves some room for interpretation depending on one’s vantage point. Closing Q1 at 558.5 thousand pounds, total export tonnage rebounded 2.1% from February. This loosely coincides with the seasonally-anticipated average uptick of 7% realized over the past five years. Nonetheless, March’s closing tally was slow to make year-over-year (YoY) headway; standing just shy of 11% below ’23 levels.

In terms of value, March’s reading retreated by about 10% when compared to this time last year. Market participants are...

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May 10 8:13 AM, Urner Barry


ANALYSIS: Turkey Export Volume Closes Q1 on a Relatively Positive Note

The latest turkey export data marks a continuation of the year-over-year (YoY) advances in outward tonnage which have been evident over the past nine months. Coming in at 37.7 million pounds, March’s closing tally stood 15%, or 3.5 million pounds, above this time in 2023. Given the ongoing complications with HPAI-related production and export constraints, it bears noting that total export figures still remain situated at the third-lowest seasonal level realized in two decades. Export value during this timeframe notched lower by 0.5%; positioning...

 

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May 9 8:00 AM, Urner Barry


Monthly Import Cargo To Reach 2 Million TEU Through Early Fall

Monthly inbound cargo volume at the nation’s major container ports should consistently be above 2 million Twenty-Foot Equivalent Units through this summer and into early fall, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“We haven’t seen numbers this high for this many months in almost two years,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Regardless of what headlines about the economy might say, consumers are shopping and retailers are making sure they... 

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May 8 1:18 PM, Urner Barry


Ernst Leads Bipartisan, Bicameral Effort to Protect Poultry Exports

U.S. Senator Joni Ernst (R-Iowa) led over 50 of her colleagues in calling on the U.S. Department of Agriculture (USDA) to protect America’s agricultural competitiveness by adopting a better definition of "poultry" so Iowa farmers will not miss out on trade opportunities.

In the letter to USDA’s Animal and Plant Health Inspection Service Administrator Dr. Michael Watson, they advocated for the World Organization for Animal Health (WOAH) to adopt the definition of "poultry" unanimously approved by the United States Animal Health Association (USAHA).

The lawmakers explained the...

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May 8 9:51 AM, Urner Barry


Properly Prepared Beef Remains Safe; Meat Institute Calls For Guidance to Protect Workers 

As the U.S. Department of Agriculture (USDA) issued a nationwide order including requiring lactating dairy cows to test negative for Highly Pathogenic Avian Influenza (HPAI) before interstate transport, the Meat Institute today said that properly prepared beef remains safe to eat and called for USDA and the Centers for Disease Control and Prevention (CDC) to provide worker safety guidance specific to beef processors to ensure workers are protected from infection.

“USDA and CDC are working overtime to understand the spread of the virus...

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Apr 26 8:00 AM, Urner Barry


US Demand Spurs Australian Beef Exports

Prices of Australian beef export have been on the rise, despite tepid consumer demand in the Asian Pacific food service sector. Overall consumption has been subdued due to cautionary spending and inflationary economic headwinds.

Selling indications of 95CL boneless beef has tipped over the $300/cwt CIF NE Asia for the first time this week since the start of the year, driven by the rally in US beef prices.

Strong March 2024 export figures have provided a substantial confidence boost to Australian exporters to drive plans for operational expansion...

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Apr 15 10:23 AM, FeedInfo


Brazil's Chicken Exports Hit Highs Despite YoY Drop and Stagnant Prices

In March 2024, Brazil's chicken meat exports reached a peak, totaling 418,100 tonnes. This volume marks the highest recorded for the year yet reflects an 18.8% decrease from March 2023's unprecedented 514,600 tonnes.

Revenue from chicken exports also declined by 23.4% year-on-year, from $980.5 million to $751.3 million. Domestically, prices paid to chicken producers has remained stubbornly low over the past six months, ranging from approximately R$ 7.20/kg in October 2023 to R$ 7.32/kg as of March 2024, according to...

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Apr 12 9:42 AM, FeedInfo


ANALYSIS: "Falling Feathers"- A Retreat in February's Chicken Export Volume...

February’s closing export tally primarily speaks to a contraction in total outward tonnage. Closing the month at 546.8 million pounds, one would have to venture all the way back to 2017 before coming across a lower seasonal figure. When compared with ’23, total volume retreated by 10.2%, or 62.3 million pounds. While the cumulative data almost speaks for itself, it is worth noting that the year-over-year (YoY) retreat in demand for U.S. chicken was not necessarily felt universally across all trade destinations...

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Apr 12 7:32 AM, Urner Barry


ANALYSIS: Turkey Exports Tonnage: Greater Than What Meets the Eye

The turkey export figures were quite a sight to behold throughout the month of February. At 36.4 million pounds, total outward tonnage rose on a year-over-year (YoY) basis for the ninth consecutive month in a row. The most recent data gave way to a notable 46% advance from 2023. This was enough to position February’s closing figure at the highest seasonal level observed since 2021.

Total export value also realized a 20% uptick from the previous year. Although month-over-month (MoM) volume retreated by 0.07%...

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Apr 11 8:15 AM, Urner Barry


Import Cargo To Hit 2 Million Containers For First Time Since Last Fall

Next month’s inbound cargo volume at the nation’s major container ports is expected to top 2 million units for the first time since last fall as imports grow despite new supply chain challenges, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“U.S. imports are continuing to increase despite another disruption impacting U.S. ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “As retailers have adjusted to limits...

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Apr 10 9:00 AM, Urner Barry


ANALYSIS: Australia's March Beef/Veal Exports Reach Highest Levels Since 2014, US Takes Top Spot

Australia’s beef/veal exports for March surged to levels not seen since 2014, up 7.7% y-o-y or up 7,595 mt to 106,573 mt, data from the Department of Agriculture, Fisheries, and Forestry (D.A.F.F) indicated. This also pointed to a consecutive monthly increase of 12,739 mt or 13.6% m-o-m. 

Notably, the US has taken over as the largest export destination for Australia, surpassing Japan, for the first time since 2015. The Monthly Australian Meat Export figures to...

 

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Apr 10 8:00 AM, Urner Barry


Analysis: Weekly Record High Volume in US Fresh Imported Lamb Product

According to the USDA’s latest National Weekly Lamb Carcass & Lamb Cuts report, the week of March 11th, 2024, experienced the highest weekly national imported volume of fresh lamb products to the US recorded since data collection began in 2005, totaling 4,424,235 pounds.

This represents a substantial increase, showing a 19.4% rise in the year-to-date total volume compared to this same period last year, and highlights a peak in demand activity as Easter 2024 approached. A significant portion...

 

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Apr 5 8:00 AM, Urner Barry


Trade and Exports Continue to Strengthen American Agriculture

American agriculture remains strong. Total U.S. agricultural exports reached $174.9 billion in 2023. American farmers, ranchers, and agribusiness owners continue to have success abroad as USDA’s Foreign Agricultural Service works for U.S. agriculture.

Exports are critical to the health of America’s farm sector and the nation’s economy. USDA and the Biden-Harris Administration are committed to ensuring that U.S. agriculture has full and fair access to markets and opportunities across the globe.

In the trade policy arena, USDA successfully opened a new grapefruit market in Vietnam...

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Apr 1 8:02 AM, Urner Barry


US Egg Industry Leaders Embark on USDA Trade Mission to South Korea

South Korea a priority target in strategic industry goal to double U.S. egg exports in five years

American Egg Board President and CEO Emily Metz and Greg Hinton, VP of sales at Rose Acre Farms in Seymour, Indiana, this week are accompanying agriculture and food industry leaders and various state secretaries of agriculture on a U.S. Department of Agriculture agribusiness trade mission to Seoul, South Korea, led by Under Secretary for Trade and Foreign Agricultural Affairs Alexis M. Taylor, March 25-28...

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Mar 29 8:00 AM, Urner Barry


Majority of EU Countries Ask Bloc to Scale Back Deforestation Law

Some 20 members of the European Union asked Brussels to scale back and possibly suspend the bloc's anti-deforestation law on Tuesday, saying the policy would harm farmers, in the latest blowback against Europe's environmental agenda.

The EU law aims to root deforestation out of supply chains for beef, soy and other agricultural products sold in Europe, so that European consumers are not contributing to the destruction of global forests from the Amazon to Southeast Asia.

Those rules equally apply to European farmers, who will be banned from exporting...

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Mar 27 8:49 AM, Urner Barry


ANALYSIS: The Surge in Boneless Beef Imports Amidst Constrained U.S. Herd

The UB Beef Trimmings, 90% Fresh Chemical Lean quotation reached a record weighted average high of $333.25 per hundredweight on March 18, 2024. Meanwhile, according to the USDA’s latest Semi-Annual Cattle Inventory report, the number of beef cows were reported at 28.2 million head, the lowest level since 1961.

With constrained availability of cows in the domestic market and record high pricing for lean trim, end users look to alternatives to satisfy demand.  They have done so quite successfully through imported boneless beef...

 

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Mar 20 8:13 AM, Urner Barry







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