Beef Variety Meat Value Reaches New High
While March beef exports were below last year – largely due to the ongoing lockout by China, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). The value of beef variety meat shipments reached a new monthly high, surpassing the previous record from January.
March beef exports totaled 97,731 mt, down 11% from a year ago, while value fell 8% to $844.7 million. Shipments increased year-over-year to Mexico, Central and South America, the Caribbean and Indonesia, and were steady to Korea and Taiwan. But these results were offset by minimal exports to China, and exports were also below last year to Japan and the Middle East.
Excluding China, March exports were 4% above last year’s volume and increased 8% in value. The March export results included 29,062 mt of beef variety meat, up 24% from a year ago and the largest since 2017. Variety meat export value increased 50% to $135.6 million, the highest on record.
March was a very robust month for per-head export value, which equated to $456.56 per head of fed slaughter.
Through the first quarter, beef and beef variety meat exports totaled 275,355 mt, down 11% from a year ago, while value fell 7% to $2.35 billion. Excluding China from these results, exports were 3% higher than a year ago in volume and increased 9% in value.
“On the beef side, while China has now been absent for more than year, the U.S. industry is making strides in other markets. The supply situation makes it difficult to grow export volumes, but exports are commanding strong prices. Expanding beef variety meat demand is especially critical, as this makes such a key contribution to the value of every animal,” said USMEF President and CEO Dan Halstrom.
Source: USMEF
