September US export data showed a fairly steady performance for US pork exports, matching the year-ago value while down slightly in volume.
But September beef exports were the lowest in more than five years, with shipments to China effectively halted and exports to other Asian markets also trending lower.
The USDA only Monday released the September export data, which was delayed by the government shutdown, the US Meat Export Federation said in a release that listed the compiled USDA data.
PORK EXPORT VOLUME DOWN, VALUE NEAR STEADY
September pork exports totaled 233,816 tonnes, down 4,231, or 1.78%, from 238,047 tonnes a year ago, the USMEF said. September’s export value was down $1.149 million, or 0.17%, at $683.911 million from $685.060 million, highlighted by the highest value on record for Mexico (nearly $260 million).
The value of pork muscle cut exports trended higher in September ($586.173 million, up $7.965 million, or 1.38%, from $578.208 million), but pork variety meat exports declined, due in part to China’s retaliatory tariffs, the USMEF said. Excluding China, September pork and pork variety meat exports were about 4% more than last year.
Through the first three quarters, US pork exports were down in volume and value, the USMEF said. Nine-month pork exports totaled 2.164 million tonnes, down 70,753, or 3.17%, from 2.235 million a year earlier. These exports were worth $6.164 billion, down $196.875 million, or 3.09%, from $6.361 billion in the 2024 period. But they were down just 1% when excluding China.
Exports to leading market Mexico, and to Central America, are poised to reach new annual highs, the USMEF said. January-September shipments also increased year-over-year to Colombia, the Caribbean, Hong Kong and Vietnam.
BEEF EXPORTS DOWN
September beef exports were just 80,835 tonnes, down 23,145 tonnes, or 22.3%, from 103,980 tonnes a year ago and the lowest since June 2020, the USMEF said. Export value was $660.893 million, down $182,878 million, or 21.7%, from $843.771 million and the lowest since February 2021.
Even when excluding China, beef export volume fell 11% year-over-year, due in part to lower production, the USMEF said.
January-September beef exports totaled 856,023 tonnes, down 104,840 tonnes, or 10.9%, from 960,863 tonnes a year ago (and down 4% when excluding China), the USMEF said. Export value was down $796.425 million, or 10.2%, to $7.028 billion from $7.824 billion.
Exports trended higher to leading-value market South Korea and to Central and South America, Hong Kong, the Philippines, the Dominican Republic, the Bahamas and Africa, the USMEF said. But these gains were more than offset by the steep decline to China and lower shipments to Japan, Mexico, Canada and Taiwan.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $230.64 per cwt to $231.14, compared with the previous week’s range of $218.00 to $227.15 per cwt. FOB dressed steers and heifers went for $353.77 per cwt to $357.39, compared with $339.66 to $354.27.
The USDA choice cutout Monday was up $2.02 per cwt at $359.46 while select was up $3.08 at $347.30. The choice/select spread narrowed to $12.16 from $13.22 with 94 loads of fabricated product and 19 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef as $393.94 per cwt, and 50% beef was $140.24.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $0.90 to $1.10 a bushel over the Mar corn contract, which settled at $4.39 3/4, down $0.01.
No live cattle contracts were tendered for delivery Monday.
The CME Feeder Cattle Index for the seven days ended Friday was $347.37 per cwt, up $0.60. This compares with Monday’s Jan contract settlement of $339.92, up $0.82.