January 17, 2012 Beef Exports Continue Strong
Highlights of Friday’s release of product weight data by the Department of Commerce and Foreign Ag Service included:
November beef exports did not challenge the record level of 90,282 metric tons set in July but were very strong none the less, breaking last year’s November high of 71,582 metric tons. The 3.4% year-on-year increase in muscle meat tonnage, though, drove a 17.6% increase in muscle meat value in November as unit prices increased sharply. YTD muscle meat tonnage now stands at 846,343 metric tons, well above the previous YTD record pace of 801,781 metric tons reached in November of 2003. That year still marks the high for beef cut exports at 858,185 metric tons — a record that will almost certainly fall when December data is released in February.
As was the case for volume, export values were record high for November but were lower than the all-time record of last July. November value of $395.8 million was 17.6% higher than last year and pushed YTD cut values to $4.325 billion, 35.8% higher than one year ago.
Beef variety meat shipments were up 4.6% in volume and 19.2% in value, year-on-year for November. YTD volume and value totals for variety meats were +13.7% and +27.4%, respectively.