Beef Export to Hk in 2017

Printing Release via U.S. Meat Export Federation

Calendar year 2017 was a record-setter for U.S. beefiness exports, with values exceeding $seven billion for merely the 2d time.

Beef exports totaled two.eight billion pounds, upward half-dozen percent from 2016. This was the quaternary-largest volume on tape and the second-largest of the post-BSE era. Beef export value reached $7.27 billion, up xv percent year-over-year and 2 percent above the previous high achieved in 2014 (to $7.thirteen billion).

For Dec merely, beef export value was up 9 per centum from a year ago to $672.9 million – the 2nd-highest of 2017 and the tertiary-highest on record. Dec volume was down 3 percent from a twelvemonth ago to 249.7 million pounds.

Beef exports accounted for 12.9 pct of total production in 2017 and 10.iv percent for muscle cuts, down from 13.7 percent and 10.v pct, respectively, in 2016. Beef export value averaged $286.38 per head of fed slaughter, upwards ix percent from 2016 and the second-highest on tape, trailing only the $300.36 average posted in 2014.

Japan leads beef export growth; value records autumn in other key markets

Japan solidified its position as the leading market place for U.S. beef in 2017, with book climbing 19 per centum twelvemonth-over-yr to 678.1 million pounds and value up 25 percent to $i.89 billion – new post-BSE records. Chilled exports to Japan expanded even more rapidly, reaching 327.viii million pounds (up 32 percent) valued at $1.102 billion (up 37 percent) as U.S. beefiness captured more than than half of Nippon's imported chilled beef market place – a new loftier for U.S. market share. Japan accounts for most $75 in consign value per head of fed slaughter and delivers disquisitional premiums for certain cuts. For case, Nihon's imports of U.S. beef natural language averaged $12.13 per head and $26.44 per head for short plate.

The U.Due south. industry is marketing a broad range of beef cuts in Nippon and the market holds potential for boosted growth. But market admission is a concern, with imports of Australian and Mexican beef subject to significantly lower duties and beef from Australia, Canada, New Zealand and United mexican states all poised to gain farther tariff relief through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Other 2017 beef export highlights include:

• Beef exports to Due south Korea increased 3 percent in book (to 406 1000000 pounds) and climbed 15 percentage in value to $1.22 billion, easily outpacing the previous yr's record. Chilled U.Due south. beef rose, increasing 73 pct in volume (to 99.5 million pounds) and 78 percent in value (to $405.8 million). Demand is especially potent in the Korean retail sector, where consumer confidence in the quality and rubber of U.S. beef continued to gain momentum. Korea'due south imports of U.South. beef are now discipline to a 21.3 percent tariff, down from 24 percent in 2017 and well beneath the 40 percentage rate in consequence prior to implementation of the Korea-U.S. Free Merchandise Agreement (KORUS). The tariff rate is scheduled to pass up to zero by 2026.
• Mexico remained the 2d-largest volume market (524.6 million pounds, down 2 per centum from 2016) and 3rd-largest in value ($979.7 1000000, up slightly). It is an especially important marketplace for U.S. beef shoulder clods, rounds and diverseness meat.
• Exports to Taiwan prepare a new value record, increasing 13 percent from a year ago to $409.7 million. Book was up two pct to 98.8 1000000 pounds. U.Due south. beef holds 72 percent of Taiwan's chilled beef market, the highest share of any Asian destination. Taiwan is a cardinal market place for secondary beefiness cuts such as the clod, middle, petite tender and top sirloin cap.
• Demand in Hong Kong rebounded from a slow start to mail service a strong performance in 2017, increasing xvi percent in book (288.2 meg pounds) and 29 percent in value ($884.one million). After Cathay's mid-year lifting of its ban on U.S. beefiness, exports to China totaled vi.7 million pounds valued at $31 million. While eligible supplies remain limited due to China's import restrictions, the market holds significant growth potential and is already one of the highest value markets for U.S. beef on a per-pound ground.
• Record exports to the Philippines and Singapore and strong growth in Indonesia and Vietnam pushed up export volume to the Association of southeast asian nations region by 37 percent to 90.3 million pounds, while value climbed 34 percent to $210.9 1000000.
• Stiff performances in Republic of chile, Peru and Colombia led the way for U.Southward. beef in Southward America, where export volume increased 24 percent to 62.6 million pounds and value was up 23 percent to $114.eight million. Shipments to Brazil, which resumed in April after a 13-year absenteeism, totaled four.5 million pounds valued at $7.4 million.
• Led by strong beef liver need in South Africa, exports to Africa increased 78 percent in volume (to 48.5 million pounds) and 74 pct in value (to $22 million). Since reopening to U.S. beefiness in 2016, Due south Africa has emerged as the sixth-largest destination for U.S. beef variety meat and 2d-largest for livers.
  The above data was released by USDA and compiled by the U.S. Meat Export Federation (USMEF), sub-contractor to the beef checkoff. Complete 2017 export results for U.S. beef are bachelor on USMEF's statistics web page. Monthly charts for U.Due south. beefiness exports are as well available online.

If y'all have questions, delight contact Joe Schuele at jschuele@usmef.org or call 303-226-7309.

The Beef Checkoff plan was established every bit part of the 1985 Subcontract Beak. The checkoff assesses $i per head on the sale of alive domestic and imported cattle, in addition to a comparable assessment on imported beef and beef products. States may retain up to l cents on the dollar and forward the other 50 cents per head to the Cattlemen'due south Beefiness Promotion and Enquiry Board, which administers the national checkoff program, discipline to USDA approval.

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Source: https://www.beefboard.org/2018/02/14/usmef-u-s-beef-exports-set-new-records-in-2017/

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