March 2012 Articles

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STRONG U.S. MEAT AND POULTRY EXPORTS

STRONG U.S. MEAT AND POULTRY EXPORTS
For the first six months of 2011, strong exports have supported U.S. red meat markets and hence cattle and hog prices. That trend has continued as shown in the recently released official international trade data for July. Further, the July data showed that chicken exports finally joined that trend after lagging for several months. In July, tonnage of U.S. beef, pork and chicken sold overseas was 33%, 18% and 29% above a year earlier, respectively.
For the month of July, Canada was the largest foreign market for U.S. beef and export tonnage increased a dramatic 79% compared to a year earlier. Other major destinations with sales well above a year earlier were Japan, Russia and Vietnam. On a tonnage basis, U.S. beef exports (not including variety meats and other non-meat products derived from cattle) have exceeded imports for 11 consecutive months.
Japan is the largest overseas market for U.S. pork and in July of this year represented 31% of export tonnage. Mexico is the second largest market (20%). Compared to a year ago, percentage gains in exports in July were largest to China. In fact, for the month, U.S. exports to China were the largest of any month since the 2008, when sales were bolstered by the Olympics in that country. Other countries that imported significantly more pork than a year ago were Canada, Japan and South Korea.
U.S. chicken export tonnage in July was apparently bolstered by rather attractive prices and attempts by some countries to combat food inflation. Major destinations with large year-over-year increases in exports by the U.S. were Angola, China (mainland), Hong Kong, and Russia. Mexico remained the largest overseas market with July’s tonnage 6% above 2010’s.
Source: Livestock Marketing Information Center (www.lmic.info) Source: www.aragriculture.org