Despite rising prices and tight supplies, U.S. beef and pork exports performed well in January. Beef exports totaled 97,824 metric tons (mt), up 13 percent from a year ago, while export value increased 16 percent to $514.5 million. Pork exports were up 3 percent in volume (191,561 mt) and 2 percent in value ($535.6 million) compared to January 2013. (Note: Export totals include both muscle cuts and variety meat.)
In the attached audio report, U.S. Meat Export Federation (USMEF) Economist Erin Borror discusses the January export results in greater detail. She notes that Mexico, Japan, Egypt and Hong Kong all posted strong January beef totals, while mainstay markets Mexico and Japan were the pacesetters for U.S. pork.
Borror adds that the current price situation is made even more challenging by recent trends in exchange rates, with the U.S. dollar strengthening compared to the currencies of many key importing countries and against the currencies of several major competitors.