Beef Exports Likely to Set Full Year Records in Volume and Value- Derrell Peel Analyzes 2017 TrendsWed, 17 Jan 2018 10:51:20 CST
November 2017 U.S. beef export value took another step toward a likely full-year value record. Beef export volume reached 246.7 million pounds in November, down 3 percent from November 2016 but still the second-highest monthly total of the year.
Export value was also the second-largest of 2017 at $666.4 million, up 8 percent year-over-year. January-November export volume totaled 2.5 billion pounds, up 7 percent, while export value climbed to $6.6 billion - up 15 percent from a year ago and slightly above the record pace established in 2014.
Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel offers his analysis on these latest beef export numbers- and for the numbers for the first eleven months of 2017- and his thoughts are featured in today's Beef Buzz.
Peel says that the top five beef export destinations are all showing improvements over year ago levels- making the gains of 2017 broad based and help support the case for the uptrend to continue in 2018.
Beef exports accounted for 13.1 percent of total production in November, the highest since July but down from 14.9 percent in November 2016. For muscle cuts only, the percentage exported was 10.9 percent - down from 11.7 percent in November 2016. For January through November, beef exports accounted for 12.8 percent of total production (down from 13.5 percent in 2016) and 10.3 percent for muscle cuts (steady with 2016).
November beef export value averaged $306.63 per head of fed slaughter, up 4 percent from a year ago and the highest in nearly three years. January-November export value averaged $282.34 per head, up 9 percent.
More details about the November numbers and the numbers for the first eleven months of 2017 are available here.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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