Percent of Beef in Us 2016
U.S. beefiness exports in Baronial 2016 reached a volume of 75,236 metric tons (MT), increasing both year over year (27.6%) and relative to the previous month (4.9%) (see Figure 1). U.South. beefiness exports during August 2016 were valued at $480.990 million, up eleven.5% and 5.5% relative to the same period terminal yr and the previous month, respectively.
The volume of U.Due south. beef exported from Jan to August 2016 (530,402 MT) was up 5.4% compared with the aforementioned menses in the previous yr (come across Table 1); even so, mainly due to lower U.Due south. beefiness prices, the value of those exports ($iii.435 billion) was downwardly 9% compared with the same period last year ($three.749 billion). Prices have been consistently failing this year, especially since the middle of June. Weekly pick beef cutout was quoted at $225.53/cwt during the calendar week catastrophe June 17, 2016 in contrast to $200.34/cwt, the quote during the week catastrophe August 26, 2016, which represents an eleven% decrease. Every bit of the week catastrophe October seven, 2016, choice beef cutout was quoted at $184.72/cwt, or 18% lower than in June 2016. Increasing beef production this yr has put down pressure on prices. Co-ordinate to the latest USDA's forecast (Earth Agronomical Supply and Demand Estimates report [WASDE, October 12, 2016]), the 2016 U.Southward. beef production will increase 5.3% to eleven.35 million MT relative to the previous twelvemonth (10.78 million MT).
Nippon is the leading volume and value market for U.S. beef this yr, representing 25.7% of total volume of U.S. beefiness exports during the get-go eight months of 2016. Exports to Japan reached a volume of 18,992 MT in Baronial 2016, rise 43.8% compared with the same menstruation last year and 3.ii% relative to exports during the previous month (see Tabular array 1 above). As indicated by the U.Due south. Meat Export Federation (USMEF), strong growth for high-value chilled muscle cuts contributed to the good performance of U.S. beefiness exports to Nippon. U.S. beefiness exports to Japan in August was valued at $106.7 meg compared with $76.6 million during the aforementioned period last year. The total volume of U.South. beef exported to Japan during the starting time eight months of this year increased 12.3% to 136,571 MT year over year, as U.S. beef exports to Japan accept continuously grown since Feb, reaching the highest volume in June (20,415 MT). Exports in July and August have declined since June, merely have been to a higher place 18,400 MT each calendar month. Total U.Due south. beef exports to Nippon from January to August 2016 were valued at $751,675, up 2.vi% twelvemonth over year, and represented 21.9% of total export value during this menstruation. (Encounter Figures 2 and three).
From January to August 2016, U.S. beef export volume to Republic of korea, the 2d largest market for U.S. beef muscle cuts this year, was 26.9% higher up last year (see Table 1), and the value of those exports rose 10.ii% to $592.4 million from last year ($537.four million) (meet Figures two and 3). Based on USDA's Livestock, Dairy, and Poultry Outlook report published on September 16, 2016, S Korea's tight domestic supplies and high prices accept contributed to the expanded import demand for U.Due south. beefiness through this year (2016). In improver, according to the USMEF, the increasing popularity of U.Due south. steaks, especially at the retail level, has supported U.Southward. beefiness export growth to South Korea, both in volume and value.
Exports to Mexico during Baronial 2016 registered the highest book of the year at 11,953 metric tons (see Table 1), increasing 32% from August 2015 and 5.two% from the previous month. U.S. beefiness exports to Mexico in Baronial 2016 were valued at $68.three million, up two.four% from last yr ($66.6 meg) and vii.iv% from terminal month ($63.six million). The chief beefiness cuts exported to Mexico in August were shoulder clods and rounds. Overall, 79,991 MT of U.Southward. beef have been exported to Mexico during the get-go viii months of 2016, increasing 10.7% from previous year's volume, but declining in value past 9.iv%, from $527.ix million in 2015 to $478.1 one thousand thousand in 2016 (see Figures ii, and 3). Low beefiness prices and exports of more economical beef cuts, are among the factors that contributed to lower value of U.S. exports to Mexico during this year. The value of U.S. beefiness exports to Mexico during the commencement eight months of 2015 and 2016 represented about 14% each of the full value of 2015 and 2016 U.S. beefiness exports.
U.S. beef exports to other important destinations such as Canada and Hong Kong/China have declined this year (2016). From Jan to Baronial 2016, U.S. beef exports to Canada fell 11.vii% in volume and twenty.1% in value from a yr ago; still the value of exports to Canada this year (January to August 2016) was 4.9% above the value of U.S. exports to United mexican states (see Effigy 3).
Meanwhile, Canada's beef exports to United mexican states are about to increase. According to the Canadian Meat Council (see hither), the Agriculture and Agri-Food Government minister Lawrence MacAulay announced on Oct 7, 2016, the conclusion of negotiations on new meat consign certificates that will permit expanded merchandise with Mexico. This volition allow access to the Mexican market place for Canada beef products derived from animals 30 months and older, which were banned by Mexico in 2003 when Canada found its first domestic case of bovine spongiform encephalopathy (BSE). U.S. beefiness exports to United mexican states, the third largest market for U.Due south. beef this twelvemonth, may be negatively affected once United mexican states fully resumes beefiness imports from Canada.
U.S. beefiness exports to Hong Kong/People's republic of china during the first viii months of 2016 fell ix.8% to 58,061 MT compared with the same period last yr (see Table 1). Likewise, the value of U.Due south. beef exports to Hong Kong/Communist china so far this twelvemonth (January to Baronial 2016) declined 24.7% to $367.8 million compared with last year. Meanwhile, based on a Global Agricultural Data Network (GAIN, September 26, 2016) report published by USDA-FAS, on September 22, 2016, China's Ministry of Agronomics (MOA) and General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) lifted the Chinese ban on U.S. beef exports. After the discovery of a case of BSE in December 2003, several countries, including China, banned beef imports from the U.S. The ban lifting includes both boneless and bone-in beefiness from cattle below thirty months of age. USDA indicated that in club to fully restore access for U.Due south. beef exports, both the U.Southward. government and the Chinese government must all the same negotiate an consign protocol and conduct audits to verify the protocol (i.e., China will conduct audits in the U.S. to confirm exports protocols). Based on noesis as of the date of the announcement, the GAIN report indicates that too veterinary health requirements, it is expected the protocol will likewise include traceability requirements.
Based on the Oct 2016 WASDE report, the forecast of U.S. beef production for 2017 is upwardly 3.half dozen% from the guess for 2016. This forecast is supported by large cattle supplies and higher carcass weights. The latest (October 2016) Livestock and Poultry: World Markets and Trade report published past USDA-FAS, indicates a positive outlook for U.South. beef exports in 2017 based on expected increased exports to South Korea, Nihon, and Mexico. Expected Commonwealth of australia'southward lower beef production equally a rainy 2016 has improved drought-stricken pastures and encouraged producers to hold stock for breeding, which will stimulate demand for U.S. beefiness in Asian markets, allowing the U.S. to increase market share in the area. Fully restoring U.South. beef exports to Mainland china in 2017 volition benefit U.S. beefiness producers as China, the fastest growing market for beef, is expected to import 950,000 MT of beefiness in 2017 from all sources. Despite the relative forcefulness of the dollar, declining wholesale beefiness prices volition boost the competitiveness of U.S. beef in foreign markets.
Source: http://www.decision-innovation.com/blog/disinsights/us-beef-exports-january-to-august-2016/
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