US herd rebuilding sends beef prices higher
10/11/2014
Exports increased 6% from a year ago in volume to 100,068 metric tons (mt), and soared 25% in value to $631.9 million. For January until the end of September, exports were up 3% in volume (890,276 mt) and 15% in value ($5.18 billion).
“These are impressive results, especially given the headwinds we faced in September – including a very strong dollar, a significant decline in beef production and our first full month of dealing with Russia’s retaliatory import ban,” said USMEF CEO Philip Seng. “It was just three years ago that US pork and beef exports eclipsed the $5 billion mark for the first time in an entire calendar year, so it’s very gratifying to see our industry reach these mileposts by the end of the third quarter.”
With herd rebuilding gaining traction, fed slaughter numbers have trended lower. September export value reached $313.67 per head of fed slaughter – down from the record set in August, but 26% higher than a year ago.
Japan was the pacesetter for September exports, with volume climbing 36% to 23,195 mt and value up 55% to $155.7 million.
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