Beef Exports Setting New Value and Volume Records

DENVER, CO – Despite supply-chain challenges, including a shortage of available shipping containers on the West Coast, 2021 has become the most successful year for beef exports ever.

According to data released by USDA and compiled by the U.S Meat Export Federation (USMEF), April exports of U.S. beef set another new value record at $808 million, a 35 percent year-over-year increase, while volumes expanded 23 percent from last year, equal to the fifth largest month on record.

For January through April, beef exports were 5 percent greater than last year (454,398 metric tons) while values expanded by 10 percent ($2.93 billion).

Beef exports also set a second consecutive value record as the beef export value per head of fed slaughter, in April, hit $367.45.

Through April, exports accounted for 14 percent of total beef production (steady with last year).

Beef exports in April to South Korea increased 21 percent, just missing a new value record and total exports were also well ahead of the record pace of 2019, when the full-year export value to Korea reached $1.84 billion.

Beef exports to China continued to soar in April, reaching a record 17 million metric tons – a ten-fold increase from 2020 – and for the first four months of the year, export values total $131 million an increase of more than 1,300 percent!
(SOURCE: All Ag News)