Pork exports shot to $4 billion at the end of July, the first time cumulative sales hit that level in so short a time, says the U.S. Meat Export Federation. Exports from January through July equaled 28 percent of U.S. production, up 2 percent from 2013, said the federation. “U.S. prices began to moderate in August, so these price gaps have now been narrowed or eliminated. Going forward, this should relieve some of the price pressure on U.S. exporters.” said Philip Seng, chief executive of the trade group.
U.S. pork prices have been record high, but pork is pricey in many regions, aside from Chine and Europe, so U.S. exports remain competitive.
Beef and pork export tonnage was down in July, compared to the year-ago figure. But the dollar value of pork exports was up by 3 percent, said the meat federation. Beef sales were steady compared to last July and so far this year are up 13 percent at $3.89 billion and on pace for a record sales year.