CME: Increase in US Broiler Export Tonnage During January 2017
USDA’s Economic Research Service published their carcass weight equivalent meat and poultry trade data for the US yesterday (Thursday, 9 March). Those data are calculated from the official monthly product weight data as compiled by USDA’s Foreign Agriculture Service using customs data. The general recent trends of year-over-year increases in exports and smaller imports continued in January, as expected, reports the Steiner Consulting Group, DLR Division, Inc.
For the month of January, US beef export tonnage was up 21 per cent year-over-year. Beef exports are highly seasonal, typically peaking in July. This year kicked-off relatively well, compared to prior January tonnage. Exports were the largest since 2001’s. Year-over-year, 41 per cent increases were posted for both Japan and Mexico, followed by South Korea (up 38 per cent). For major export destinations, double-digit gains also were recorded in sales to Viet Nam, Taiwan, and Canada. In January, beef imported tonnage continued its trend of declining compared to a year ago, dropping 25 per cent. Australia accounted for most of the drop (down 47 per cent year-over-year).
Turning to pork, during January, the US exported 20 per cent more tonnage than a year ago. Mexico and South Korea drove those gains jumping 36 per cent and 34 per cent, respectively. In terms of year-over-year growth among major foreign markets, Japan was next (up 6 per cent). January’s pork imports declined 14 per cent from 2016’s.
In the poultry complex, stronger exports remained the story. US broiler export tonnage increased 12 per cent year-over-year during January; which was the largest for that month since 2014’s. Historically, January is often the lowest broiler export month during the calendar year. This January, broiler sales were reported to 113 different countries. Year-over-year gains were broad based and included several Middle Eastern, African, Caribbean, and Central American countries. In January, turkey tonnage sold to other countries grew by 26 per cent compared to a year ago, driven by exports to the largest US market which is Mexico. Turkey exports were the largest posted for a January in two years.