US beef export values remained on a record-shattering pace in October, according to data released by USDA and compiled by the US Meat Export Federation.
At the same time, October pork exports trended seasonally higher but remained below those of October 2017, the USMEF said.
In a release, USMEF President Dan Halstrom credited climbing demand for US beef “in nearly every region of the world.” Annual records had already fallen in some markets, he said.
BEEF EXPORTS HOT
October beef exports totaled 117,838 tonnes, up 6,551, or 5.89% from 111,287 a year ago, valued at $727.4 million, up 65.341 million, or 9.87%, from $662.1 million a year earlier and the second-highest monthly total on record, the USMEF said.
For beef muscle cuts only, October shipments came to 89,974 tonnes, up 4,089, or 4.76%, from 85,885 a year earlier, the USMEF said.
For January through October, beef exports totaled 1.13 million tonnes, up 89.03 million, or 8.57%, from 1.04 million year over year, while value was up $993.31 million, or 16.8%, to $6.92 billion from $5.93 billion.
For beef muscle cuts only, January through October exports increased 93,086 tonnes, or 12.0% in volume (867,714 tonnes versus 774,628) and $985.2 million, or 18.95 in value ($6.19 billion versus $5.10 billion).
Exports accounted for about 13% of total beef production in October, steady with last year and 11.6% for muscle cuts only, which was down slightly, the USMEF said. October export value equaled $317.53 per head of fed slaughter in October, up 5% from a year ago.
For January through October, exports accounted for about 13.5% of total production and 11.1% for muscle cuts, up from 12.8% and 10.2%, respectively, last year, the USMEF said. For the period, the per-head average was up 15% to $320.50.
PORK EXPORTS DOWN SLIGHTLY
October pork export volume was 207,725 tonnes, down 3,867, or 1.83%, from 211,592 a year earlier. This was the largest month since May but still 2% below October 2017, reflecting smaller variety meat exports, the USMEF said.
October export value of $536.5 million, also was the largest since May but still was down 5% from a year ago. October, 2017 export value came to $536,450, down $28,932, or 5.12%, from $565,382 a year ago. For pork muscle cuts only, October exports totaled 169,179 tonnes, up 1,856, or 1.11%, from 167,323 a year earlier, with a value of $448,711, down 13,430, or 2.91%, from $462,141.
For January through October, pork exports, at 2.02 million tonnes, were 15,403 tonnes, or 0.77%, above last year’s record pace of 2.01 million tonnes, the USMEF said. Value also was up, rising $46.9 million, or 0.89%, to $5.33 billion from $5.28 billion.
For pork muscle cuts only, January-October exports increased 5% from a year ago in volume (1.63 million tonnes), valued at $4.43 billion (up 2%).
CATTLE, BEEF RECAP
At the Fed Cattle Exchange video auction Wednesday, 219 head of fed cattle sold at an average $117.83 per cwt, up from $116.75 the previous Wednesday.
Cash cattle traded last week late at $118 to mostly $119 per cwt on a live basis, steady to up $0.50 from the previous week. On a dressed basis, cattle traded at $187, up $3.50 to $4.
The USDA choice cutout Monday was up $1.13 per cwt at $215.42, while select was up $0.44 at $200.94. The choice/select spread widened to $14.48 from $13.79 with 73 loads of fabricated product sold into the spot market.
The CME Feeder Cattle index for the seven days ended Friday, was $1445.00 per cwt, down $1.07. This compares with Monday’s Jan settlement of $145.02, up $0.65.