Increased exports to leading markets Japan and Mexico – along with sharp increases in sales to Hong Kong – continue to drive U.S. beef sales to higher levels. For the year, total U.S. beef exports (muscle cuts plus variety meat) stand at 969,186 metric tons (up 2 percent) valued at nearly $5.1 billion (up 11 percent), and are expected to easily top 2012’s record value of $5.51 billion.
Export value per head of fed slaughter averaged $251.06 in October, up $29 from last year. Exports accounted for 11 percent of muscle cuts and 13.5 percent of total beef exports (muscle cuts plus variety meat) for the month, up from 10 and 12.6 percent, respectively, last year.
Top-performing beef export markets in October were:
- Japan: 18,004 metric tons (up 40 percent) valued at $106.3 million (up 16 percent)
- Mexico: 21,983 metric tons (up 53 percent) – Mexico’s largest volume of U.S. beef imports since December 2011 – valued at $95.3 million (up 50 percent)
- Hong Kong: 15,403 metric tons (up 148 percent) – a new record volume – valued at $98.1 million (up 184 percent)
- South Korea: 9,509 metric tons (up more than 25 percent) valued at $60.6 million (up close to 75 percent)
- Central/South America: 3,560 metric tons (up 61 percent) valued at $15.5 million (up nearly 54 percent)
“Hong Kong is clearly emerging as a major beef market, and USMEF’s initiatives there cover retail, food service and trade sectors in this highly competitive and progressive market,” said Seng. “We are the second-largest supplier to Hong Kong, trailing only Brazil, but we are continuing to miss out on even larger opportunities in mainland China, where we have not had access since 2003.”
Mainland China’s beef imports through the first 10 months of this year have reached 253,196 metric tons valued at nearly $1.1 billion – increases of 562 percent in volume and 595 percent in value over last year, according to the Global Trade Atlas. Australia holds better than a 50 percent market share there in the United States’ absence.