December 18, 2008

Pork sets record for monthly export value

U.S. pork exports continued at an incredible pace in October, the U.S. Meat Export Federation has announced. Despite the global economic downturn, October pork exports posted a record for monthly export value, while the total monthly volume was the third-largest on record - that equates to a 46 percent volume increase over exports from October of 2007 and a 55.5 percent increase in value.

There has been talk of meat exports slowing, but obviously that didn’t happen for pork, at least not yet. Certainly that is good news for pork producers!

Beef exports were also positive, although the figure was smaller than the summer months. (Maybe more beef in Korea will help over the next few months?)

Here are some of the details, from USMEF’s announcement:

Pork and pork variety meat exports in October totaled 192,940 metric tons (425.4 million pounds) valued at $487 million - a new record for monthly export value. Export volume increased 18 percent over the previous month and trails only May and June of 2008 for most pork exported in a single month. For January through October, exports were up 67 percent to 1.7 million metric tons (3.8 billion pounds), with value surpassing $4.1 billion.

The story for U.S. beef also remains positive. Although smaller than the summer peak, beef plus beef variety meat exports were relatively strong in October, exceeding October 2007 volume levels by 16 percent. U.S. beef and variety meat exports for the month reached 89,205 metric tons (196.7 million pounds) valued at $348.3 million, exceeding year-ago export value totals by 31.4 percent. January through October beef exports, including variety meat, increased 31 percent to 840,121 metric tons (1.8 billion pounds), with value surpassing $3.1 billion, an increase of 43 percent.

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