Beef Variety Meat Value Record–High
January beef exports were lower than a year ago due to the prolonged lockout in China, but export value per head of fed slaughter was more than $415 – the highest since March and reflecting solid demand in other markets. Beef variety meats were a major bright spot, with export value topping the previous monthly high reached in December.
Beef exports totaled 92,558 mt in January, down 10% year-over-year. But value fell just 3% to $780.1 million, as exports have commanded higher prices.
However, prices are still not being maximized to the degree that would be possible with China back in the mix.
When excluding China from the January results, exports increased 5% in volume and climbed 16% in value.
January beef shipments trended higher year-over-year to Korea, Japan, Taiwan, the Caribbean, the ASEAN and South America, with export value also increasing to Mexico, Canada and Central America.
Beef variety meat exports were especially strong in January, increasing 6% from a year ago to 27,511 mt, while value soared 46% to a record $126 million.
“Beef variety meat value reaching new heights for the second consecutive month is great news for cattle producers and for the entire supply chain,” USMEF President and CEO Dan Halstrom said. “With cattle numbers being tight, it is more critical than ever to maximize the value of every animal. And while much of this export growth was driven by tongues and skirts going to Japan, demand was strong in a wide range of markets.”
Source: USMEF
