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USDA International Meat Review


01 May 2013

USDA International Meat Review - 25 April 2013USDA International Meat Review - 25 April 2013


USDA International Meat Review

Trade Highlights

The USDA Foreign Agricultural Service (FAS) recently issued its bi-annual report, Livestock and Poultry: World Markets and Trade. According to the publication, world beef and veal production during 2013 is forecast at 57.53 MMT. This was up slightly over 2012. U.S. beef production during 2013 is predicted to total 11.39 MMT, which is 4.0 percent less than 2012 due to restricted slaughter cattle availability because of declining calf crops, liquidation driven by drought and high feed prices. The U.S. is the leading beef producing nation. During 2013, beef production in Brazil, the second largest beef producing country, is forecast to reach a record 9.50 MMT. This is 2.1 percent more than 2012 due to various factors such as government support, better pasture management, cattle prices and strong international demand. During 2013, world beef and veal exports are forecast to increase 5.7 percent over 2012 to a record 8.60 MMT. During 2013, beef exports from ndia are expected to increase 20.5 percent over 2012 to 1.70 MMT. This places India as the largest beef exporting nation. Brazil’s beef exports are forecast to total 1.60 MMT, 5.0 percent more than 2012 due to ample supplies. Australia’s beef exports during 2013 are expected to increase 4.1 percent over 2012 to a record 1.47 MMT because of good supplies, competitive prices and strong international demand. U.S. beef exports during 2013 are forecast at 1.10 MMT, which is down 1.3 percent from 2012. During 2013, world beef and veal imports are forecast to total 7.08 MMT, which is up 6.0 percent over 2012. The U.S. is predicted to be the largest beef importing country in 2013 with 1.16 MMT, which is 15.5 percent greater than 2012. Russia’s beef imports during 2013 are expected to increase 1.2 percent over 2012 to 1.04 MMT. Japan’s beef imports are expected to total 760,000 MT, which is 3.1 percent more than 2012. During 2013, South Korea’s beef imports are predicted to remain unchanged from 2012 with 370,000 MT. Meanwhile, FAS forecasts world pork production during 2013 to total a record 107.41 MMT. This is 1.8 percent above 2012 due to the expectation of lower feed prices. China’s pork production during 2013 is expected to reach 53.80 MMT, which is 2.8 percent greater than 2012 because of increased slaughter hog supplies and heavier carcass weights. China is the primary pork producing nation. During 2013, pork production in the EU, which is the second largest pork producing country, is forecast to total 22.55 MMT. This is a little lower than 2012. Pork production in the U.S. during 2013 is predicted to total 10.67 MMT, which is up 1.1 percent over 2012 due to lower feed prices and higher slaughter. During 2013, world pork exports are forecast at 7.25 MMT, which is slightly lower than 2012. U.S. pork exports during 2013 are predicted to fall 3.3 percent from 2012 to 2.36 MMT due partly to lower exports to Russia. The U.S. is the largest pork exporting country. EU pork exports are forecast at 2.26 MMT during 2013, which is 1.5 percent more than 2012. During 2013, Canada’s pork exports are expected to decline 1.0 percent from 2012 to 1.23 MMT. World pork imports during 2013 are forecast to total 6.84 MMT, which is down nearly 1.0 percent from 2012. Japan’s pork imports are predicted to decline 2.3 percent from 2012 to 1.23 MMT due to the depreciation of the yen, larger domestic supplies and greater consumption of U.S beef. Japan is the main pork importing nation. During 2013, Russia is expected to import 1.08 MMT of pork, which is up a little over 2012. Pork imports from the U.S. are forecast at 363,000 MT, unchanged from 2012.

2013 Tariff Rate Quota Status of U.S. Beef Imports As of April 15, 2013

Source: U.S. Customs and Border Protection

North America

The U.S. Customs and Border Protection (CBP), which is a division of the Department of Homeland Security, recently published the most current statistics on U.S. beef imports under a tariff rate quota (TRQ). According to the data, as of April 15, 2013, U.S. beef imports under a TRQ totaled 192,997 MT. This was 2.4 percent more than the same period a year ago. Imports of beef from New Zealand were 33.7 percent greater than a year ago, amounting to 55,782 MT. This filled 26.1 percent of the country’s TRQ, up from 19.5 percent the previous year. Beef imports from Australia totaled 45,612 MT. This was 2.9 percent less than a year ago. This filled 12.1 percent of the TRQ, compared to 12.4 percent a year ago. Beef imports from Canada, which are not subject to a TRQ, equaled 45,108 MT, which was 26.3 percent below a year ago. Through April 15, beef imports from Uruguay were 78.0 percent higher than last year, equaling 7,387 MT. Uruguay filled 36.9 percent of its TRQ, which was up from 20.8 percent last year.

CanFax recently published Canada’s current cattle on feed numbers for terminal feedlots with 1,000 or more head in the provinces of Alberta and Saskatchewan. According to the data, Canada’s total cattle on feed on April 1, 2013 equaled 911,164 head. This was 5.9 percent less than one year ago and was 6.5 percent less than the five year average. During March, the number of cattle placed on feed increased 7.7 percent over a year ago to 176,524 head. However, this was 9.8 percent lower than the five year average. Steers placed on feed totaled 118,071 head, which comprised 66.9 percent of the total. Heifers placed on feed totaled 58,453 head. More specifically, placements of feeder cattle weighing less than 600 pounds equaled 15,129 head, which was 9.0 percent more than last year. Placements weighing 600 to 699 pounds totaled 23,911 head, 11.2 percent higher than a year ago. Placements weighing 700 to 799 pounds were down 11.6 percent from last year, amounting to 44,616 head. Finally, placements of feeder cattle weighing more than 800 pounds totaled 92,868 head, which was 18.9 percent greater than a year ago. Meanwhile, during March, Canada’s fed cattle marketings fell 3.7 percent from one year ago to 129,233 head. This was 13.3 percent less than the five year average.

Canadian Cattle On Feed in Alberta & Saskatchewan Feedlots

Source: CanFax

On April 19, the USDA National Agricultural Statistics Service (NASS) published its monthly Cattle on Feed report. According to the data, on April 1, 2013, cattle and claves on feed for the U.S. slaughter market in feedlots with a capacity of 1,000 or more head totaled 10.91 million head. This was down 5.0 percent from one year ago and was down 3.1 percent from two years ago. The number of cattle placed on feed during March rose 6.0 percent over one year ago to 1.90 million head. However, this was slightly lower than two years ago. Steer and steer calves on feed totaled 6.91 million head, which was 3.6 percent less than last year and accounted for 63.4 percent of the total. Heifer and heifer calves on feed totaled 3.93 million head, which was 7.6 percent less than a year ago. More specifically, placements of feeder cattle increased over a year ago in each weight category. Placements of weighing less than 600 pounds equaled 410,000, which was 5.1 percent higher than last year. Placements weighing 600 to 699 pounds were up 5.0 percent over a year ago, totaling 315,000 head. Placements weighing 700 to 799 pounds equaled 540,000 head, which was 8.0 percent more than last year. Finally, placements of feeder cattle weighing more than 800 pounds increased 5.3 percent over a year ago to 634,000 head. In the meantime, U.S. fed cattle marketings during March equaled 1.77 million head. This was down 7.7 percent from one year ago and was down 11.0 percent from two years ago.

U.S. Cattle on Feed

Source: USDA National Agricultural Statistics Service

On April 22, USDA NASS released its monthly Cold Storage report. According to the report, as of March 31, 2013, beef in U.S. cold storage facilities equaled 513.2 million pounds. This was 2.0 percent higher than a year ago and was 14.9 percent higher than the five year average. Specifically, boneless beef in cold storage increased 5.7 percent over a year ago to 459.4 million pounds. Beef cuts in storage totaled 53.8 million pounds, which was 21.5 percent less than last year. In the meantime, at the end of March, pork in U.S. cold storage totaled 648.8 million pounds. This was 6.3 percent more than a year ago and was 11.0 percent more than the five year average. Specifically, hams in storage equaled 95.0 million pounds, 18.6 percent greater than last year. The volume of pork bellies in storage fell 22.0 percent from a year ago to 51.5 million pounds. Loins in cold storage totaled 44.3 million pounds, 1.3 percent higher than last year. Pork ribs in storage equaled 121.3 million pounds, 19.0 percent greater than a year ago. The volume of pork butts in storage declined 22.6 percent from last year to 24.4 million pounds. Pork trimmings in storage equaled 66.1 million pounds, which was 3.0 percent lower than a year ago. The volume of veal in U.S. cold storage was up 28.5 percent over a year ago, totaling 5.8 million pounds. Lamb and mutton in cold storage equaled 17.7 million pounds, which was 19.0 percent lower than last year.

Pacific Rim

Japan’s Agriculture and Livestock Industries Corporation (ALIC) recently issued Japan’s red meat import data for February 2013. According to the data, Japan’s beef imports during February fell 10.7 percent from the previous month and 23.2 percent from February 2012 to 30,759 MT. Specifically, frozen beef imports equaled 16,645 MT, which was down 18.9 percent from the previous month and was down 32.7 percent from February 2012. Fresh, chilled beef imports equaled 14,077 MT, which was up 1.5 percent over the previous month but was down 7.8 percent from February 2012. Beef imports from Australia during February totaled 18,138 MT. This was 15.6 percent less than January and was 32.1 percent less than February 2012. Year-to-date beef imports from Australia were 23.2 percent below last year, totaling 39,624 MT. The decline was due to a weaker currency in Japan and competition with other international markets. Australia was the leading provider of beef to Japan with 60.8 percent of the total imports. During February, Japan imported 7,923 MT of beef from the U.S. Although this was 1.0 percent higher than the previous month, it was 2.7 percent lower than February 2012. Total year-to-date beef imports from the U.S. equaled 15,769 MT, 1.7 percent lower than a year ago. Japan’s beef imports from New Zealand during February rose 6.7 percnet over the previous month to 2,510 MT. However, this was 10.4 percent less than February 2012. Year-to-date beef imports from New Zealand were down 3.2 percent from last year, amounting to 4,863 MT. Overall, Japan’s total year-to-date beef imports equaled 65,202 MT, which was 15.6 percent below the same period a year ago. Japan’s beef marketings during January totaled 65,894 MT, which was 19.2 percent less than the previous month and was 4.2 percent less than a year ago. Marketings of imported beef were down 1.5 percent from last year, equaling 38,385 MT. Domestic beef marketings totaled 27,509 MT, which was 7.7 percent lower than a year ago. At the end of January, Japan’s beef stocks totaled 92,027 MT. This was down 4.9 percent from the previous month and was down slightly from a year ago. Stocks of imported beef equaled 79,172 MT, 1.2 percent less than last year. Stocks of domestic beef were up 5.5 percent over a year ago, amounting to 12,855 MT.

Japan's Beef Imports for Febuary 2013

*Includes cheek, head & cooked meats.
Source: Japan's Agriculture & Livestock Industries Corporation

Japan’s pork imports during February fell 6.5 percent from January and fell 8.5 percent from February 2012 to 57,954 MT. More specifically, frozen pork imports totaled 37,288 MT, which was down 7.1 percent from the previous month and was down 10.2 percent from February 2012. Likewise, fresh, chilled pork imports were down 5.4 percent from the previous month and were down 5.1 percent from February 2012, totaling 20,663 MT. Japan’s pork imports from the U.S. during Februay equaled 22,309 MT. This ws 9.7 percent less than the previous month and was 15.9 percent less than February 2012. Total year-to-date pork imports from the U.S. were 13.4 percent below last year, amounting to 47,026 MT. The U.S. was the largest supplier of pork to Japan with 39.2 percent of the total imports. During February, Japan imported 12,053 MT of pork from Canada. This was up 6.2 percent over the previous month but was down 8.1 percent from February 2012. Year-to-date pork imports from Canada totaled 23,401 MT, 16.3 percent lower than a year ago. Pork imports from Denmark during February fell 17.3 percent from the previous month to 8,784 MT. Also, this was down 11.2 percent from February 2012. Year-to-date pork imports from Denmark were 4.8 percent less than last year, totaling 19,409 MT. Overall, Japan’s total year-to-date pork imports equaled 119,949 MT, 9.2 percent below the corresponding period a year ago. Japan’s pork marketings during January fell 14.7 percent from the previous month and fell 1.5 percent from a year ago to 130,877 MT. Imported pork marketings totaled 50,733 MT, which was 11.3 percent lower than a year ago. Marketings of domestic pork were 5.9 percent higher than last year, totaling 80,144 MT. At the end of January, Japan’s pork stocks totaled 175,319 MT, which was 6.5 percent higher than the previous month but was 1.9 percent lower than a year ago. Stocks of imported pork equaled 154,454 MT, nearly unchanged from last year. Stocks of domestic pork equaled 20,865 MT, which was 12.6 percent below a year ago.

Japan's Pork Imports for February 2013

*Includes edible offal.
Source: Japan's Agriculture & Livestock Industries Corporation

Recently, the Korea International Trade Association (KITA) published South Korea’s beef and pork import data for March 2013. According to the statistics, during March, South Korea imported 19,068 MT of beef. Although this was up 5.8 percent over the previous month, it was down 10.9 percent from March 2012. More specifically, imports of frozen product totaled 16,140 MT, which accounted for 84.6 percent of the total. Imports of fresh, chilled product totaled 2,928 MT, of which Australia’s share was 79.1 percent. South Korea’s beef imports from Australia during March totaled 10,453 MT, which was 14.2 percent more than the previous month but was 5.1 percent less than March 2012. During the first quarter of the year, South Korea’s beef imports from Australia equaled 34,596 MT, which was 10.4 percent greater than last year. Australia was the primary beef import market for South Korea with 50.8 percent of the total. During March, South Korea imported 5,940 MT of beef from the U.S. This was down 7.9 percent from February and was down 24.4 percent from March 2012. Year-todate beef imports from the U.S. totaled 25,181 MT, which was slightly less than a year ago. Beef imports from New Zealand during March rose 14.1 percent over the previous month to 2,483 MT. Additionally, this was 12.7 percent more than March 2012. Total year-to-date beef imports from New Zealand equaled 7,576 MT, 14.1 percnet greater than a year ago. Overall, South Korea’s beef imports during the first quarter of 2013 totaled 68,133 MT, which was up 5.9 percent over the same period a year ago. Meanwhile, during March, South Korea imported 24,977 MT of pork, which was up 1.9 percent over the previous month but was down 48.5 percent from March 2012. Pork imports from the U.S. during March rose 19.6 percent over the previous month to 10,734 MT. However, this was 19.3 percent lower than March 2012. During the first quarter, South Korea’s pork imports from the U.S. were 6.2 percent below a year ago, amounting to 35,085 MT. The U.S. was the leading supplier of pork to South Korea with 41.9 percent of the total. During March, South Korea imported 3,315 MT of pork from Canada. This was down 11.3 percent from February and was down 58.7 percent from March 2012. During the first quarter, pork imports from Canada were 40.8 percent below a year ago, totaling 10,753 MT. Pork imports from Chile during March fell 31.5 percent from the previous month and fell 42.1 percent from March 2012 to 2,039 MT. Year-to-date pork imports from Chile equaled 8,416 MT, which was 9.6 percent less than last year. Overall, South Korea’s total pork imports during the first quarter of 2013 totaled 83,817 MT, which was 30.2 percent below the corresponding period a year ago.

South Korea Red Meat Imports

Source: Korea International Trade Association

May 2013

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