With Time Left, Beef Exports Set Records

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The following is from the U.S. Meat Export Federation:

October was another excellent month for U.S. pork and beef exports, according to statistics released Friday by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports set a new all-time monthly value record of nearly $574 million, pushing the cumulative 2011 value to a new annual record of $4.93 billion – breaking the previous high of $4.88 billion in 2008. Beef export value for October was $452 million, boosting the 2011 cumulative total to a new annual record of $4.49 billion. By year’s end, both U.S. pork and beef exports will eclipse the $5 billion mark for the first time ever.  

In this audio report, USMEF President and CEO Philip Seng discusses the critical factors behind this success.

Seng notes that when some key Asian markets remained closed to U.S. beef due to BSE, the U.S. industry was forced to diversify its export targets. This is now paying off in a big way, as U.S. beef exports have surged to record levels in markets such as the Middle East, Central and South America, Russia and Canada. 


U.S. pork is also performing very well across the globe, but the export value pacesetter is still Japan. Pork exports to Japan reached $1.65 billion in 2010, and that record will fall again this year as exports through October already totaled $1.62 billion. Export value to Japan should top $1.9 billion by the end of this year, and Seng explains some of the marketing strategies that have made U.S. pork so successful in this highly competitive market.

 

Source:  USMEF

Posted by Haylie Shipp

 

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