American Beef August Exports Decline Continues
USDA has released August red meat export data, which was delayed due to the lengthy government shutdown. As compiled by the U.S. Meat Export Federation (USMEF), August data showed beef exports were sharply lower than a year ago, impacted heavily by an impasse with China that has effectively locked U.S. beef out of the world’s largest import market.
August beef exports totaled 83,388 mt, down 19% from a year ago and the lowest since June 2020. Export value fell 18% to $695.5 million, the lowest since February 2021.
While exports to China plummeted, shipments were steady to leading market South Korea and trended higher than a year ago to the Caribbean and Central and South America.
For January through August, beef exports were 9.5% below last year at 775,188 mt, while value declined 9% to $6.37 billion.
Beef export value equated to $372.10 per head of fed slaughter in August, down 5% from a year ago. The January-August average was $400.16 per head, down 3.5% from the same period last year. Exports accounted for 12.1% of total August beef production and 9.8% for muscle cuts only – each down about one percentage point from a year ago. The January-August ratios were 13.1% of total production and 11% for muscle cuts, down from 13.9% and 11.6%, respectively, during the same period last year.
Source: USMEF
