“It was encouraging to see beef exports to Korea trend higher despite considerable economic and political headwinds, and Canada’s demand for U.S. beef has been very robust to start the year,” USMEF President and CEO Dan Halstrom said. “But exports to China lost momentum in February, likely due in part to the slowdown after Chinese New Year and the questions about plant eligibility. Unfortunately, China has still failed to address the issue of beef plant renewals. This impasse definitely hit our March beef shipments even harder, and the severe impact will continue until China lives up to its commitments under the Phase One Economic and Trade Agreement.”

Beef export value per head of fed slaughter equated to $432.90 in February, up 5% year-over-year. The January-February average was $399.34 per head, up 3.5%. Exports accounted for a record 14.2% of total February beef production and 11.9% for muscle cuts, each slightly higher than a year ago. The January-February ratios were 13.4% of total production and 10.9% for muscle cuts, compared to 13.3% and 11.1%, respectively, during the same period last year.

Source: USMEF