According to data recently compiled and released by the United States Department of Agricuture (USDA) and the U.S. Meat Export Federation (USMEF) , U.S. pork exports continued to gain momentum in November, while beef exports also showed signs of a rebound.
November exports of U.S. pork were up 8 percent from a year ago, the largest volume since May. Pork export value was $452.6 million, down 13 percent from a year ago, but up slightly from October. Continuing a trend seen over the past several months, pork muscle cut export volume was up significantly year-over-year, while variety meat exports declined 23 percent.
With January-November exports up 5 percent, export volume to Mexico is on pace to set a new record for the fourth consecutive year. With several U.S. pork plants regaining eligibility for China near the beginning of November, exports to the China/Hong Kong region were the largest of 2015, valued at $65.6 million. After cooling to some degree in the previous two months, November pork exports to South Korea reached the largest volume since May, and are up 5 percent year-over-year.
November beef export volume increased year-over-year to several key Asian markets, with exports to Korea increasing 8 percent in volume, and export volume to Hong Kong up 2 percent, the largest of 2015. Taiwanese exports were up 16 percent in volume and 13 percent in value, while export volume to the Philippines surged 192 percent, and increased 35 percent in value
“November offered some encouraging signs for U.S. meat exports, though the results were certainly not at the levels we would like to see,” said USMEF President and CEO Philip Seng. “Despite the weak peso, Mexico continues to be a very strong performer for U.S. pork, and our beef exports to Mexico have also held up fairly well. Exports to most Asian markets are showing upward momentum, but clearly the need to defend and expand our market share in Japan has never been greater.”
Looking ahead to 2016, USMEF sees opportunities for U.S. beef and pork to regain market share, with larger U.S. production and improved market access in some key regions, but the competitive landscape remains very intense.