According to USDA data compiled by the U.S. Meat Export Federation (USMEF), while February exports of U.S. pork and beef were roughly steady with last year’s volumes, export value moved lower during the month as prices continued to decline from the 2014 highs.

The price reductions reflect more abundant red meat supplies and a fiercely competitive international marketplace.

Pork export volume was down 1 percent from a year ago, while value fell 12 percent to $414.3 million. February beef exports totaled 83,203 mt, up slightly from last year, while value dropped 18 percent to $437 million. January-February exports were up 2 percent in volume from a year ago, but fell 16 percent in value.

“Given the headwinds U.S. exports faced early last year, including the severe congestion in the West Coast ports, we expected to see year-to-year increases in most markets, but the actual picture was mixed,” said USMEF President and CEO Philip Seng. “Beef exports did rebound in most Asian markets compared to February 2015, but these gains were largely offset by declines in our neighboring markets. U.S. pork continues to regain traction in China/Hong Kong, but exports slowed to our other major Asian destinations.”

U.S. exports to China/Hong Kong continue to build momentum, with February exports at 86 percent above last year’s pace in volume and 50 percent higher in value.

“Declines in Chinese hog numbers and pork production have pushed prices to the highest level since 2011, triggering larger imports from all suppliers,” Seng said. “At the same time, the import market continues to receive large volumes of very competitively-priced product from Europe. We are in a battle for market share, not only in China but also in all key Asian markets.”

Pork shipments were also up substantially in both Australia and New Zealand, Central America and the Caribbean. Growth in the Philippines and Vietnam also led to a 13 percent increase in export value to the ASEAN region.

Beef export volume moved higher than a year ago in most Asian markets and Central America, and was relatively steady in the Middle East and the Caribbean, but demand slowed substantially in Mexico and Canada, last year’s No. 1 and No. 4 volume destinations for U.S. beef.

“U.S. beef is well-positioned to regain market share in Asia this year,” Seng explained. “But we need to find even more innovative ways to maintain beef demand in Mexico, where the weak peso has effectively offset any softening of U.S. beef prices.”