USMEF: Pork exports set new records in 2012
US beef and pork exports set new value records in 2012, topping highs set in 2011, according to end-of-year statistics released by USDA and compiled by the US Meat Export Federation (USMEF).
The achievement was more significant in light of challenging export conditions that included non-science-based trade barriers in several key markets and an anemic economy in certain regions.
“The export markets are a critical profit center for the industry at a time when the industry is challenged by high input costs and, on the beef side, a historically low herd size,” said Philip Seng, USMEF president and CEO. “2012 saw record highs for per-head export values for both pork and beef at a time when those returns were sorely needed by producers.”
Pork exports set both volume and value records last year, reaching 2.26 million mt – up a fraction from the record set in 2011 – valued at $6.3 billion, a 3.5 percent increase over the prior year’s record.
The per-head export value of US pork exports set another record in 2012, reaching $55.87, up 1 percent from 2011. For the year, exports accounted for 27 percent of total pork production and 23.4 percent of pork muscle cut production versus 27.5 percent and 23 percent, respectively, in 2011.
The value of beef exports for the year rose 2 percent to a record-high $5.51 billion on 12 percent lower volumes (1.13 million mt).
The per-head export value for beef hit $216.73, a $10.36 increase over 2011. Contributing to that was a new monthly record value of $242.65 set in December.
For the year, US beef exports accounted for 12.7 percent of total beef production and 9.8 percent of muscle cut production. This compares to 14.2 percent and 11 percent, respectively, in 2011.
Records Set in 2012
In addition to the new standards noted above, one-year export records were set in several key export markets:
• Mexico: 600,949 mt (12 percent increase) valued at $1.126 billion (8 percent increase)
• Canada: 235,604 mt (14 percent increase) valued at $855.7 million (16 percent increase)
• Central/South America: 90,897 mt (26 percent increase) valued at $227.9 million (22 percent increase)
• Australia/New Zealand: 76,801 mt (9 percent increase) valued at $236.1 million (5 percent increase)
• Russia: 80,408 mt (10 percent increase) valued at $307.5 million (20 percent increase)
• Hong Kong: 65,033 mt (28 percent increase) valued at $339.5 million (43 percent increase)
• Central/South America: 33,891 mt (31 percent increase) valued at $134.1 million (57 percent increase)
• Canada: $1.177 billion (14 value increase even though volume dipped 6 percent to 180,015 mt)
Top 5 Value Export Markets for 2012
• Japan – $1.986 billion
• Mexico – $1.126 billion
• China/Hong Kong – $886.2 million
• Canada – $855.7 million
• South Korea – $421.1 million
• Canada – $1.177 billion
• Japan – $1.03 billion (surpassing the $1 billion mark for the first time since 2003)
• Mexico – $822.4 million
• South Korea – $582 million
• Hong Kong – $339.5 million
Looking ahead, the outlook for 2013 appears positive for both the US beef and pork industries, according to Seng.
The projection for pork calls for steady to slight growth, with exports likely to still exceed 2.2 million mt valued at more than $6 billion with key risk factors including Russia and domestic production in China. On the bullish side, US pork is an extremely versatile, high quality protein at a great value that will gain market share in key export markets. Continued growth to top volume market Mexico is also expected to boost the bottom line.
For more info on beef and lamb meats, visit USMEF.
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