U.S. Beef Exports Jump 42 Percent Over 2020

WASHINGTON, DC – Beef production in June increased 9 percent over May, and 1 percent year over year, to 2.4 billion pounds according to the Agriculture Marketing Service’s (AMS) Monthly Economic Landscape.

Cattle slaughter for the month was 2.95 million head, a 9 percent month over month increase and 3 percent more than June of 2020.

Live weights on average slipped 19 pounds to 1,346 pounds with live cattle prices holding steady at $122 per hundredweight, still representing a 26 percent growth over prices just one year earlier.

International trade continues to indicate strong global demand as June 2021 beef and veal exports totaled 112,000 metric tons which is up 42 percent from the same time period in 2020.

Export values increased 63 percent to $804 million as South Korea, Japan, China, Canada, and Taiwan represent the top five markets for U.S. beef producers.

With strong domestic demand, AMS notes that beef imports remain just under 100,000 metric tons with the U.S. buying the majority from Canada (29 percent), Mexico (22 percent), New Zealand (17 percent), Australia (13 percent), and Brazil (8 percent).
(SOURCE: All Ag News)