US beef exports report another record value in October
In the first 10 months of this year, US beef exports were up 9% year-over-year in terms of volume and reached a total of 1.13 million mt. Meanwhile, the value increased by a staggering 17% to $6.92 billion in the mentioned period.
USMEF said in its report that for beef muscle cuts only, exports increased 12% in volume (867,714 mt) and 19% in value ($6.19 billion).
Furthermore, USMEF added that out of the total beef production from the US in October (which was steady with last year), exports accounted for 13%, and 11.6% for muscle cuts only (down slightly).
In the first 10 months of the year, beef exports accounted for 13.5% of the total production and 11.1% for muscle cuts – up from 12.8% and 10.2%, respectively, last year.
Beef export value equated to $317.53 per head of fed slaughter in October, up 5% from a year ago. For January through October, the per-head average was up 15% to $320.50.
“Demand for U.S. beef continues to climb in nearly every region of the world, with annual records already falling in some markets,” said Dan Halstrom, USMEF president and CEO. “Per-head export value will also easily set a new record in 2018, which illustrates the strong returns exports are delivering for cattle producers and for the entire supply chain.”
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