US beef and pork exports opened 2021 below the large volumes posted a year ago, according to January data released by USDA and compiled by the US Meat Export Federation Monday.
USMEF President and CEO Dan Halstrom said in a release that January represented a fairly solid start to 2021, but he cautioned that exports still faced COVID-related obstacles and significant transportation and labor challenges.
BEEF EXPORTS DOWN 2%
Beef exports totaled 105,047 tonnes in January, down 2,327, or 2.17%, from 107,374 tonnes a year ago, while value slipped $19.667 million, or 3.01%, to $652.994 million from $672.661 million.
The decline mainly was because of lower beef variety meat shipments, as muscle cut exports were about steady with January 2020 at 81,398 tonnes, versus 81,342 tonnes, valued at $584.426 million, down $4.767 million, or 0.81%, from $589.193 million and accounted for a larger share of production than a year ago, the USMEF said.
January beef exports equated to $311.78 per head of fed slaughter, up about 3% from a year ago, the USMEF said. Exports accounted for 13.3% of total beef production and 11% for muscle cuts only, above the January 2020 ratios of 13.1% and 10.6%, respectively.
Japan remained the leading volume market for US beef at 22,018 tonnes, down 3,187, or 12.6%, from 25,205 tonnes a year ago, but slipped to second place in value behind South Korea at $138.059 million, down $20.035 million, or 12.7%, from $158.094 million. The USMEF said most of Japan’s major cities have been under a COVID-related state of emergency since early January that included reduced hours for restaurants and cafes.
PORK EXPORTS DOWN 9%
January pork exports totaled 248,656 tonnes, down 24,947, or 9.12%, from 273,603 tonnes a year ago. Export value was down $95.952 million, or 13.0%, to $642.786 million from $738.738 million.
Pork muscle cut exports were down 25,755 tonnes, or 11.0%, in volume to 208,234 tonnes from 233,989 tonnes a year ago and $99.039 million, or 15.2%, in value to $551.354 million from $650.393 million, while pork variety meat shipments trended modestly higher than a year ago.
January pork exports equated to $57.14 per head slaughtered, the USMEF said, down 9% from a year ago. Exports accounted for 28.2% of total pork production and 25.4% for muscle cuts only, down from 29.8% and 27.4%, respectively, in January 2020.
Pork exports to China/Hong Kong were well below last year’s very large volumes but still reached 76,202 tonnes, down 21% from a year ago, valued at $173.3 million, down 29%. January exports included a mix of frozen cuts, bone-in hams and boxed carcasses. Carcass export volume was 5,923 tonnes, the largest since June.
CATTLE, BEEF RECAP
Fed cattle trading last week was at $113 to $114 per cwt on a live basis, down $1 to $1.50 from the previous week. Dressed-basis trading was at $180, down $1 to $2.
The USDA choice cutout Monday was down $0.25 per cwt at $231.08, while select was up $2.28 at $223.13. The choice/select spread narrowed to $7.95 from $10.48 with 49 loads of fabricated product and 21 loads of trimmings and grinds sold into the spot market.
The USDA reported Monday that basis bids for corn from livestock feeding operations in the Southern Plains were unchanged at $1.05 to $1.07 a bushel over the May CBOT futures contract, which settled at $5.47 a bushel, up $0.01 1/2.
The CME Feeder Cattle Index for the seven days ended Friday was $133.92 per cwt, down $0.93. This compares with Monday’s Mar contract settlement of $135.35 per cwt, up $0.75.