US beef exports close to the monthly milestone of 1 billion
US beef exports are getting closer to 1 billion/month milestone, as July set another new value record for the industry. July export value climbed 45% from a year ago to $939.1 million, while volume was the third largest of the post-BSE era at 122,743 tonnes, up 14% year-over-year. In the first 7 months of 2021, US beef exports increased 18% from a year ago to 822,830 mt, with value up 30% to $5.58 billion. Compared to the pace established in 2018, the record year for US beef exports, shipments were up 6% in volume and 17% in value.
"Beef exports were really outstanding in July, especially with COVID-related challenges still impacting global foodservice as well as persistent obstacles in shipping and logistics. Retail demand continues to be tremendous, as evidenced by the new beef value record,” said USMEF President and CEO Dan Halstrom.
Japan, South Korea and Taiwan were the main destinations for US beef in July and even if the volumes were relatively steady with last year, prices have gone up.
Also, beef exports to China continued to post impressive growth, with July shipments reaching a record 18,021 tonnes, valued at $150.5 million. Through July, exports to China were up about 1,000% from a year ago in both volume (99,022 tonnes) and value ($773 million). US beef accounted for 5% of China’s total imports, and the US is now the primary supplier of grain-fed beef to China.
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