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USMEF Reports Steady Beef Exports During in May
USAgNet - 07/09/2019

May exports of U.S. pork and beef were steady with last year's strong volumes and increased year-over-year in value, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

May beef exports were steady year-over-year in volume (117,541 mt) while export value increased 1% to $727.6 million -- the second-highest on record, trailing only the August 2018 total of $751.7 million. For January through May, exports were 3% below last year's record pace in volume (530,088 mt) but only slightly lower in value at $3.3 billion.

Beef export value per head of fed slaughter averaged $312.85 in May, down slightly from a year ago. For January through May, beef export value averaged $309.33 per head, down 3%. May exports accounted for 14.6% of total U.S. beef production and 12% for muscle cuts only, each down slightly from a year ago. For January through May, exports accounted for 14% of total production and 11.3% for muscle cuts -- down from 14.6% and 11.9%, respectively, a year ago. (Please note: due to a calculation error, the percentage of beef production exported was incorrectly reported from January 2017 through April 2019. These ratios have now been corrected, and are about 1.1 percentage points higher than originally reported.)

Beef exports to South Korea remained on a record pace in May, climbing 11% to 23,004 mt and 13% in value to $165 million. January-May exports to Korea were 11% above last year in volume (101,761 mt) and 15% higher in value ($743.5 million). With continued growth at retail and foodservice, U.S. share of Korea's chilled beef imports reached a post-BSE high of 61%, up from 57% last year and 52% in 2017. Chilled beef from the U.S. totaled 22,268 mt, up 8% year-over-year, valued at $224 million, up 12%.

Following a fairly steady first quarter, beef exports to Taiwan strengthened for the second straight month in May at 5,873 mt (up 27% from a year ago), valued at $52.6 million (up 28%). Through May, exports to Taiwan were 11% above last year's record pace in volume (24,478 mt) and 4% higher in value ($218.2 million).

Though slightly below last year's level, May export volume to leading market Japan rebounded to 29,749 mt, while value was down 3% to $190.8 million. Export volume through May was steady with last year's pace at 128,045 mt while value increased 1% to $828 million. This performance was driven in part by a large increase in beef variety meat exports (mainly tongues and skirts), which jumped 23% in volume (24,135 mt) and 20% in value ($157.5 million). Despite the tariff disadvantages, U.S. beef's share of Japan's imports has held nearly steady this year at 41%, but with a level playing field there are tremendous opportunities for growth.

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