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Red Meat Exports Soar

published: November 11th 2011
by: Don Pillar
source: DesMoinesRegister.com

Exports of pork and beef continued at record pace through September, with pork exports up 16.6 percent to a value of $4.4 billion and beef exports increased by 26 percent.

The strong exports have played a major role in record prices for both cattle and hogs, which are up by 31 percent and 44 percent respectively.

Led by a record-breaking month for pork exports to China and the continued rebound of beef exports to Mexico, 2011 remains on pace to set new annual records for the value of beef, pork and lamb exports, according to statistics released by the USDA and compiled by the U.S. Meat Export Federation (USMEF).

“This year has presented opportunities for the U.S. red meat industry to expand exports, and the industry has worked aggressively to capitalize on those opportunities,” said Philip Seng, president and CEO of the U.S. Meat Export Federation. “The premiums that international buyers pay for U.S. beef, pork and lamb are critical to the bottom line of U.S. producers.”

Iowa is the nation’s largest pork producer. About one-third of the nation’s hogs are either born or fed in Iowa. The state is the nation’s fifth largest cattle feeding state and together hog and cattle sales are expected to generate $8-$10 billion in cash sales this year.

September pork exports equated to 26 percent of total U.S. pork and pork variety meat production and those exports were valued at $56 per head.

For beef, September exports accounted for 14.4 percent of total beef and beef variety meat production and $212.64 in value per head of fed cattle, up from 11 percent of production and $151 in value per head last year.