US red meat exports see solid March
In March 2015, pork export volumes of 191,041 metric tons (mt) were down 9% year-on-year but up 10% from February 2015. Export values hit $495.3 million, down 18% from March 2014 but up 5% from the previous month.
Beef export volumes (86,774 mt) for the month were down 7% compared to the same month in 2014 but up 5% compared to February. Export values were $527.3m, up 2% year-on-year but down from February.
Lamb also had a solid month, with volumes slightly down year-on-year, but values hitting the highest amount since November 2014. First-quarter lamb exports were down 14% and 18% in volume and value terms respectively.
The comparatively strong months were attributed to the alleviation of a labour dispute on the West Coast, which had affected red meat exports in January and February.
March proved to be the highest month for pork export volumes since April 2014 and accounted for 25% of total production and 21% of muscle cuts only. Export value per head slaughtered was $50.10 during the month, down almost $20 compared to March 2014, but in line with 2013 prices. First quarter per head export values were down 19% year-on-year to $49.48.
Beef exports accounted for 13% of total production and 10% of muscle cuts, with export value per head of fed slaughter rising 5% year-on-year to $284.30. Q1 per head beef export values increased 9% to $290.32.
Philip Seng, president and CEO of USMEF, warned of tough times ahead due to currency fluctuations and market access barriers in China and Russia.
"Closure of the Russian market to European pork continues to impact all major pork suppliers, as the EU has focused very aggressively on alternative markets in Asia," he said. "In the beef complex, the projected slowdown in Australia’s production may still be coming, but certainly did not materialise in the first quarter.
"These are unusual conditions that are made more difficult by the strong US dollar, but now isn’t the time to dwell on the stiff headwinds we are facing. We must aggressively defend the customer base the US industry has worked so hard to build over the years by reaffirming the value and quality delivered by US red meat."
