ONLINE Dan Fulleton Farm Equipment Retirement Auction
THIS WILL BE AN ONLINE AUCTION Visit bakerauction.com for full sale list and information Auction Soft Close: Mon., March 3rd, 2025 @ 12:00pm MT Location: 3550 Fulleton Rd. Vale, OR […]
Published 3:15 pm Sunday, July 12, 2020
Disruption at U.S. meat processing plants due to the coronavirus pandemic and economic slowdowns, particularly in the Western Hemisphere took a toll on red meat exports in May.
Beef exports in May were down 33% in volume year over year at 79,280 metric tons, falling 34% in value to $480.1 million. May’s shipments were the lowest in volume in 10 years, U.S. Meat Export Council reported this week.
While pork exports fared better — up 12% in volume to 243,823 metric tons and 9% in value to $620.9 million — volume was down 13% and value was down 16% from the monthly average in the first quarter of the year.
“Unfortunately the (production) impact was quite severe, especially on the beef side,” Dan Halstrom, USMEF president and CEO, said in a press release accompanying the latest statistics.
“Exports also faced some significant economic headwinds, especially in our Western Hemisphere markets, as stay-at-home orders were implemented in key destinations and several trading partners dealt with slumping currencies,” he said.
Beef exports were hit hard by significant decline in trade with Japan, South Korea and Mexico.
May exports to leading beef customer Japan dropped 33% in volume to 19,986 metric tons and 36% in value to $121.9 million.
Beef shipments to South Korea were down 20% in volume to 18,319 metric tons and 27% in value to $120.4 million.
Beef trade to Mexico plunged 65% in volume to 6,989 metric tons and 72% in value to $25.5 million.
Pork exports to those markets in May also took a hit.
Pork shipments to Mexico were down 28% in volume to 37,715 metric tons and 40% in value to $58.8 million.
Pork exports to Japan were down 25% in both volume and value at 27,165 metric tons valued at $111.5 million.
Pork trade to South Korea was down 24% in volume and 30% in value to 16,403 metric tons valued at $43.5 million.
Trade with China and Hong Kong was one bright spot for beef and pork exports.
The U.S.-China Phase One Economic Trade Agreement fueled beef exports to China, which were up 205% in volume year over year to 1,671 metric tons and 187% in value to $13.2 million.
“Phase One provided significant market access gains for U.S. beef, finally putting the U.S. industry in position to compete in the world’s fastest growing beef market,” Halstrom said.
More gains are expected in that market as China’s foodservice sector regains momentum and U.S. production returns to normal, he said.
“The change that will make the biggest impact on export volumes is China agreeing to follow international standards on synthetic hormone use, rather than a zero-tolerance ban,” Joe Schuele, USMEF vice president of communications, told Capital Press.
Beef exports to Hong Kong increased 10% in volume to 8,397 metric tons and 8% in value to $68 million.
In the pork arena, African swine fever continued to fuel exports to China and Hong Kong. Exports there pulled back from recent record highs but were still up 148% in volume to 112,820 metric tons and 188% in value to $259 million.
ASF also boosted pork exports to Vietnam, which were up 129% in volume to 7,050 metric tons and 141% in value to $15.5 million.
THIS WILL BE AN ONLINE AUCTION Visit bakerauction.com for full sale list and information Auction Soft Close: Mon., March 3rd, 2025 @ 12:00pm MT Location: 3550 Fulleton Rd. Vale, OR […]
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