November Beef Exports Strong
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November beef exports performed well, reaching 232 million pounds valued at $456.25 million. This was steady with the October 2011 volume and up slightly in value. On a year-over-year basis, November 2011 exports were up 4 percent in volume and 17 percent in value from the very strong totals recorded in November 2010. This boosted the January-November export total to 22 percent higher in volume (at 2.6 billion pounds) and 35 percent higher in value (at $4.9 billion) than a year earlier. When December results become available, beef export value will no doubt eclipse the $5 billion mark for the first time ever.
U.S. beef exports in November equated to 14 percent of total production (including variety meat), and 11 percent of production for muscle cuts only. This was consistent with the 2011 average but up significantly from the 2010 ratios of 11.7 percent for total production and 9 percent for muscle cuts. The value of exports for November 2011 was $219.73 per head of fed slaughter, up $41.50 from a year earlier. For January-November, export value averaged $204.27 per head - more than $50 ahead of the previous year’s average.
Exports of U.S. beef to Canada posted another strong month, solidifying it as the leading value destination for 2011 and ensuring a $1 billion performance by year’s end. For January through November, exports to Canada totaled 383 million pounds (up 27 percent) valued at $940.5 million (up 43 percent).
Mexico is still the volume leader for U.S. beef exports, despite a slight slowdown in volume in November. Export volume for the month was down 4 percent to 48 million pounds, but value still climbed 6 percent to $84.6 million. For the year, exports to Mexico were up 5 percent in volume to 517 million pounds and were 23 percent higher in value, at $902.8 million.
Japan was the leading value destination for U.S. beef for the month of November, at $85.3 million, up nearly 40 percent from November 2010. Export volume was 18 percent higher, at 31 million pounds. For the year-to-date, exports to Japan were up 29 percent in volume to 326 million pounds and 38 percent in value to $812.1 million.
November exports to South Korea, Hong Kong and the Middle East were all lower year-on-year, but all of these markets remained up solidly for the year. In fact, Hong Kong and the Middle East had already set new annual volume and value records for the year in October.
Exports to Russia were also slightly lower in volume in November but more than 60 percent higher in value. Russia set a new annual value record in October, which now has reached $243.6 million. Led by surging exports to Chile, the Central-South America region has also set new records this year, both for volume (51 million pounds, up 50 percent) and value ($75 million, up 76 percent).
Complete 2011 export statistics through November are available online.
For more information about your beef checkoff investment, visit MyBeefCheckoff.com.
The Beef Checkoff Program was established as part of the 1985 Farm Bill. The checkoff assesses $1 per head on the sale of live domestic and imported cattle, in addition to a comparable assessment on imported beef and beef products. States retain up to 50 cents on the dollar and forward the other 50 cents per head to the Cattlemen’s Beef Promotion and Research Board, which administers the national checkoff program, subject to USDA approval.
Funded by the Beef Checkoff.
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