US beef and pork exports trended lower in May, partly because of interruptions in slaughter and processing, according to data released by the USDA and compiled by the US Meat Export Federation.
“As protective measures related to COVID-19 were being implemented, plant disruptions peaked in early May with a corresponding temporary slowdown in exports,” said USMEF President and CEO Dan Halstrom, in a release. “Unfortunately, the impact was quite severe, especially on the beef side.”
BEEF EXPORTS DROP
May’s beef exports, at 79,280 tonnes, dropped 38,261 tonnes, or 32.6%, below year-ago levels of 117,541 tonnes, recording the lowest monthly volume in 10 years, the USMEF said. Shipments were higher than last year to Hong Kong and to China but trended lower to most other markets.
The value of May beef exports, at $480.073 million were $247.485 million, or 34.0%, below the year-ago monthly value of $727.558 million.
For the year through May, beef exports totaled 512,596 tonnes, down 17,492 tonnes, or 3.30%, from 530,088 tonnes a year earlier, the USMEF said. These exports were valued at $3.137 billion, down $166.962 million, or 5.05%, from $3.304 billion in the 2019 period.
Exports accounted for 12.5% of total beef production in May and 10.5% for muscle cuts only, down from 14.6% and 12.0%, respectively, in May 2019, the USMEF said. For January through May, exports still accounted for slightly higher percentages of total beef production (14.1%, up from 14%) and muscle cut production (11.6%, up from 11.3%) compared with last year.
Beef export value per head of fed slaughter averaged $282.48 in May, down 10% from a year ago, the USMEF said. The January-May average was $318.87 per head, up 3%.
PORK EXPORTS ABOVE YEAR AGO
Pork exports remained higher than a year ago but were the lowest since October 2019.
May pork exports totaled 243,823 tonnes, the USMEF said, 25,824, or 11.8%, more than the 217,999 tonnes of a year ago but down 13% from the monthly average for the first quarter of 2020.
Pork export value in May was $620.874 million, up $53.078 million, or 9.35%, from $567.796 million a year ago but 16% less than the first quarter monthly average, the USMEF said.
May exports increased year-over-year to China/Hong Kong, Taiwan and Vietnam but trended lower to Mexico, Japan, Canada and South Korea, the USMEF said.
For January through May, US pork exports of $3.533 billion were $959.487 million, or 37.3%, more than the $2.574 billion from the same period last year.
Exports accounted for 36.2% of total pork production in May and one-third of muscle cut production, up substantially from last May’s ratios (27.3% and 23.3%, respectively), the USMEF said. For January through May, exports accounted for 33% of total pork production and 30% for muscle cuts, also up significantly from last year (25.4% and 22.1%, respectively).
Pork export value per head slaughtered averaged $72.30 in May, down only slightly from the April record and 32% more than a year ago. The January-May average was $67.33 per head, up 38%.
CATTLE, BEEF RECAP
Fed cattle sold last week at $93 to $96 per cwt on a live basis, down $0.50 to $2 from the previous week. Dressed-basis sales were at $152 to $155 per cwt, steady to down $1.
The USDA choice cutout Monday was up $0.02 per cwt at $205.46, while select was down $1.79 at $196.97. The choice/select spread widened to $8.49 from $6.68 with 117 loads of fabricated product sold into the spot market.
The CME Feeder Cattle index for the seven days ended Thursday was $128.88 per cwt, down $0.17. This compares with Monday’s Aug contract settlement of $136.15, up $1.27.