February Beef Exports Lower Year-over-Year, but Showing Improvement

While still impacted by severe congestion in the West Coast ports, February exports of U.S. beef bounced back to some degree from the totals posted in January, according to data released by USDA and compiled by the U.S. Meat Export Federation.
In addition to port congestion, February exports also continued to face significant challenges such as the strong U.S. dollar, large supplies from key competitors and market access barriers.
February beef exports totaled nearly 83,000 metric tons – down 3 percent year-over-year but a 4 percent improvement over January. Export value of $535.3 million was up 12 percent from a year ago and 6 percent higher than in January.
February beef exports accounted for 14 percent of total production and 11 percent for muscle cuts only – ratios similar to a year ago, but higher than in January.
Beef exports to Japan rebounded significantly in February, up 11 percent from a year ago in volume (15,933 mt) and 23 percent in value ($112.6 million).
The trend was similar for South Korea, as February exports were up 16 percent in volume (10,899 mt) and 24 percent in value ($80.4 million).
Mexico posted another strong month, driven by large beef variety meat exports.