Exports of US beef, pork and lamb trended higher year over year in March, according to data released by the USDA and compiled by the US Meat Export Federation.
A USMEF said in a release that beef export value was the highest since June, while Latin American markets again fueled pork export growth.
Plant eligibility for China is less of an issue for U.S. pork than for U.S. beef, as China renewed most pork establishments in mid-March, said USMEF president Dan Halstrom, in the release. But he cautioned that pork and beef exports to China have since hit a wall because of China’s prohibitive duties, which now total 172% for US pork and 147% for US beef.
BEEF EXPORTS LARGEST IN NINE MONTHS
March beef exports totaled 109,330 tonnes, up 1,112 tonnes, or 1.03%, from 108,218 tonnes a year ago, while export value reached $921.955 million, up $32.036 million, or 3.60%, from $889.919 million last year and the highest since June.
First-quarter exports were 1,545 tonnes, or 0.50%, below last year’s pace at 310,368 tonnes from 311,914 tonnes, but increased 43 million, or 1.73%, in value to $2.527 billion from $2.484 billion.
March was a bounce-back month for US beef exports to Taiwan, which jumped 34% from a year ago to 5,086 tonnes, while export value climbed 33% to $60.5 million, the USMEF said. These results pushed first-quarter exports to Taiwan 1% above last year’s pace at 12,212 tonnes, while export value climbed 11% to $147.6 million.
The US is the dominant supplier of high-value chilled beef in Taiwan, capturing 72% of the chilled import market, the USMEF said.
MARCH PORK EXPORTS UP
March pork exports increased 3% year over year to 269,344 tonnes from 260,430 tonnes, valued at $769.661 million, up 4%, from $740.791 million.
First-quarter exports were up 1.0 million, or 0.05%, from last year’s record value pace at $2.109 billion from $2.108 billion, but volume was down 8,523 tonnes, or 1.12%, at 754,488 tonnes from 763,011 tonnes.
Beef exports to Mexico also closed the first quarter on a high note, increasing 6% from a year ago in March to 17,592 tonnes, while export value climbed 7% to $110.9 million, the USMEF said. For January through March, beef shipments to Mexico were 3% less than last year at 54,861 tonnes, while value was steady at $332.7 million.
Mexico is the leading volume destination for US beef variety meat, including large volumes of tripe, lips and hearts, the USMEF said. First-quarter variety meat shipments increased 5% from a year ago in volume (30,162 mt) and 6% in value ($81.6 million).
CTTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $217.68 per cwt to $221.77, compared with last week’s range of $212.00 to $219.77 per cwt. FOB dressed steers, and heifers went for $336.28 per cwt to $349.28, compared with $329.37 to $346.08.
The USDA choice cutout Wednesday was up $1.48 per cwt at $346.15 while select was up $1.03 at $334.00. The choice/select spread widened to $12.15 from $15.70 with 75 loads of fabricated product and 27 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef was $377.24 per cwt, and 50% beef was $113.63.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.16 to $1.26 a bushel over the Jul corn contract, which settled at $4.49 1/4, down $0.06 1/4.
The CME Feeder Cattle Index for the seven days ended Monday was $293.78 per cwt, up $0.38. This compares with Tuesday’s May contract settlement of $294.45, down $1.25.