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CME: July Beef Exports Lower Than a Year Ago

06 September 2019

US - Beef exports in July were 89,712 MT, 2.9 percent lower than a year ago, reports Steiner Consulting Group, DLR Division, Inc.

The decline in beef exports for the month was expected based on the level of shipments reported in the weekly USDA update. And judging from shipments reported for August, we expect to see lower beef exports for last month and possibly in September as well.

Lower exports to Japan have been the main reason for the decline in US beef exports so far this year. Shipments to the Japanese market in July were 24,114 MT, down 2,901 MT or 11 percent from a year ago. The decline put Japan behind South Korea as the main market for US beef.

Exports to the Korean market were 24,192 MT, 1,403 MT or 6 percent higher than a year ago. Exports to Canada declined 17 percent y/y while exports to Mexico were 4 percent lower. Higher beef prices and a strong US dollar have negatively impacted beef exports so far this year.

In the first seven months of the year US beef export volume was down 17,044 MT or 2.9 percent from a year ago. The value of fresh/frozen and cooked beef exported in the first seven months of the year was $4.2 billion, 1.3 percent lower than a year ago.

Variety meat exports were higher in July. Export volume was 28,133 MT, up 16.4 percent y/y while export value at $81.2 million was 21.2 percent higher than a year ago.


Daily Livestock Report - Copyright © 2008 CME. All rights reserved.


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