U.S. beef exports set a new value record in May while also increasing significantly year-over-year in volume, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). May pork exports were lower than a year ago, though January-May totals for U.S. pork remained ahead of last year’s pace.
Beef export volume was 117,871 metric tons (mt) in May, the sixth-largest on record, valued at a remarkable $722.1 million, which surpassed the previous monthly high (March 2018) by a healthy 4% and was 24% higher than a year ago. Through the first five months of 2018, beef exports were up 10% in volume to 547,157 mt while export value was $3.32 billion, 21% above last year’s record pace.
Exports accounted for 13.6% of total beef production in May, up from 13% a year ago. For muscle cuts only, the%age exported was 11.1%, up from 10% last year.… Continue readingRead More »