Red meat exports dip in August

U.S. beef and pork exports were lower in August compared to a year ago, according to data compiled by the U.S. Meat Export Federation (USMEF).

U.S. beef exports in August were 14% below August 2011 volume, but were the second-largest of the year at 100,468 metric tons, according to the federation. The value of beef exports dipped 5%, but was the second-highest monthly total of 2012 at $486.2 million.

For the first eight months of the year, the volume of beef exports declined 11% compared to the same year-ago period, but were 2% above the 2011 record value pace at $3.66 billion.

August U.S. pork exports fell 6% in volume to 175,310 metric tons, and values were off 7% at $495.5 million, the federation reports.

Pork exports gained 2% in volume to 1.474 million metric tons and 8% in value to total $4.13 billion in the first eight months of 2012.

“We face a challenging business climate in several key markets, with rising production costs and slowing economic growth creating some anxiety among buyers,” said Philip Seng, president and CEO of USMEF. “We’re also seeing a surge in domestic meat supplies in some areas, particularly in South Korea."