United States beef export volumes fell 18 percent to 84,167 metric tons, while pork export volumes fell 1 percent to 160,719 metric tons and lamb export volumes fell 27 percent to 586 metric tons for the month.
U.S. beef, pork and lamb exports struggled in August, according to the U.S. Meat Export Federation (USMEF).
For the month of August, beef export value reached $498 million, down 24 percent from last August. Beef export volumes dropped 18 percent from Aug. 2014 to 84,167 metric tons.
Pork export value was $429.8 million in August, a year-over-year drop of 19 percent. Pork export volumes fell 1 percent from last August to 160,719 metric tons.
Lamb export value reached $1.43 million in August, down 33 percent from Aug. 2014, while lamb export volumes fell 27 percent to 586 metric tons.
During 2015, growth markets for lamb exports included Saudi Arabia, Hong Kong and Costa Rica. However, that growth was offset by declines in exports to Mexico, Canada and several other markets, USMEF said.
China’s devaluation of the yuan on Aug. 11 also added pressure to the currencies of several primary importing countries and large competitors against the U.S. dollar, according to USMEF.
“Although our direct red meat exports to China are quite limited, the aftershocks of China’s currency devaluation and concerns about the global economy were felt across the world,” USMEF President and CEO Philip Seng said in a statement. “This definitely impacted demand in many of our key export destinations.”
However, on a positive note, price gaps with some primary competitors started to decrease in recent weeks, said Seng.
“A long-awaited slowdown in Australian cattle slaughter finally materialized this summer, and Australian beef exports have begun to pull back from their record pace,” he said. “European pork prices also seem to have found a bottom, and this should help level the playing field in those key Asian markets that saw a large influx of European pork over the past 18 months. It is important that we continue to identify opportunities to recapture and defend market share so that U.S. exports can finish strong in what has been a very difficult year.”
U.S. meat exports slip in August
