Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   

Agricultural News


August Pork Exports Trend Higher; Beef Exports Again Top $1 Billion

Thu, 06 Oct 2022 14:37:51 CDT

August Pork Exports Trend Higher; Beef Exports Again Top $1 Billion August exports of U.S. pork topped year-ago totals for the first time in 2022, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports were slightly above last August’s large volume and again topped $1 billion in value, reaching this milestone in seven out of eight months this year.


"We speak often about the importance of developing a wide range of markets for U.S. red meat, and the August export results are a great illustration of that,” said USMEF President and CEO Dan Halstrom. "Exports face significant headwinds in some key destinations, with weakened currencies topping the list. But the emphasis on broad-based growth really pays dividends in these situations, allowing the overall export picture to remain very positive. I also cannot say enough about the loyalty of our international customers, many of whom have diminished purchasing power but continue to show a strong preference for U.S. red meat.”



Pork exports led by growth in Mexico, Korea, strong variety meat demand


Pork exports reached 226,293 metric tons (mt) in August, up slightly from a year ago and the largest since November 2021, while export value climbed 4% to $659.6 million. Pork variety meat exports were the third largest on record in August at nearly 53,000 mt.


August export growth was driven by another strong performance in leading market Mexico, a continued rebound in exports to China/Hong Kong and year-over-year increases in South Korea, the Caribbean and the Philippines. For January through August, pork exports were 15% below last year at 1.72 million mt, valued at $4.9 billion (down 13%).



Widespread growth, led by China/Hong Kong, Middle East and ASEAN, bolster August beef exports


August beef exports totaled 133,832 mt, up 1% year-over-year and the second largest volume on record – trailing only May 2022. Export value was just under $1.04 billion, slightly below the then-record total achieved in August 2021, which was the first time monthly exports topped the $1 billion mark.


August beef exports to China/Hong Kong were record-large and shipments to leading value market South Korea exceeded last year’s large volume. Exports also achieved robust growth in the Middle East, Canada and the ASEAN region, which included a new record for shipments to the Philippines.


For the first eight months of 2022, beef exports increased 5% from a year ago to 1.004 million mt, valued at $8.23 billion – a remarkable 24% above last year’s record pace.



August exports of lamb muscle cuts trend lower


For the first time in 2022, exports of U.S. lamb muscle cuts were lower than a year ago at 125 mt, down 35%. Export value totaled $827,000, down just 4%.


Through August, muscle cut exports increased 65% to 1,407 mt, valued at $8.54 million (up 68%). Led by the Dominican Republic, Netherlands Antilles and Bahamas, exports to the Caribbean more than doubled from a year ago to 720 mt (up 106%) and increased 88% in value to $5.2 million.


A detailed summary of the January-August export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website.


   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Atop the RON Rural Soapbox - Former Secretary John Block  Sun, 27 Nov 2022 15:08:55 CST
  • Drought Monitor Thanksgiving Week Little Changed from Week Earlier Across Oklahoma  Sat, 26 Nov 2022 17:38:39 CST
  • 29th Annual Tulsa Farm Show Coming December 8-10, 2022  Sat, 26 Nov 2022 10:06:07 CST
  • Pheasant Season Kicks Off December First- Oklahoma Pheasant Population Similar to Recent Years  Sat, 26 Nov 2022 09:58:54 CST
  • Pheasant Season Kicks Off December First- Pheasant Population Similar to Recent Years  Sat, 26 Nov 2022 09:28:30 CST
  • Friday Preopening Market Update with Dave Lanning  Fri, 25 Nov 2022 07:47:22 CST
  • NCBA and PLC Call ESA Listing Plan of Lesser Prairie Chicken Punitive for Cattle Producers in Southern Plains  Wed, 23 Nov 2022 14:51:06 CST
  • Wednesday Preopening Market Update with Dave Lanning  Wed, 23 Nov 2022 07:24:13 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.
       

       

    Search OklahomaFarmReport.com

    © 2008-2022 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.