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USDA International Meat Review


06 March 2015

USDA International Meat Review - 6 March 2015USDA International Meat Review - 6 March 2015


USDA International Meat Review

Trade Highlights

On February 19, the USDA Economic Research Service (ERS) and the USDA Foreign Agricultural Service (FAS) published the quarterly Outlook for U.S. Agricultural Trade. According to the report, exports for U.S. agricultural products during fiscal year (FY) 2015 are expected to total $141.5 billion, which is down from the November estimate of $143.5 billion. This was 7.2 percent less than 2014. During 2015, exports of livestock products are predicted to total $19.2 billion, down from the November forecast of $20.6 billion. This is down 4.0 percent from 2014.

Exports of beef and veal during 2015 are forecast at 800,000 MT, 7.9 percent less than the prior forecast. The value of beef and veal exports during 2015 is expected to total $6.5 billion, down 1.5 percent from the November estimate of $6.6 billion. U.S. pork exports during 2015 are projected to total 1.6 MMT, which is down from the previous estimate of 1.8 MMT. The value of pork exports is expected to total $4.8 billion, down from the previous forecast of $5.5 billion. During 2015, beef and pork variety meat exports are forecast at 900,000 MT, up from the November estimate of 800,000 MT. The value of variety meat exports is predicted to total $1.7 billion, unchanged from the prior forecast.

Meanwhile, U.S. imports of agricultural products during FY 2015 are forecast at a record of $119.0 billion, up from the November forecast of $116.0 billion. Also, this is 9.0 percent greater than 2014. The value of imports of livestock and meats is forecast at $13.7 billion, up from the November forecast of $12.9 billion. This is 13.7 percent higher than 2014. Imports of cattle and calves during 2015 are forecast at 2.3 million head, unchanged from the prior estimate. The value of the imports of cattle and calves is expected to total $2.6 billion, unchanged from the previous forecast. During 2015, swine imports are forecast at 4.9 million head, up from the November estimate of 4.8 million head. The value of swine imports is forecast to total $400 million, unchanged from November. Fresh, beef and veal imports during 2015 are predicted to equal 1.0 MMT, up from the previous forecast of 900,000 MT. The value of beef and veal imports is pegged at $6.1 billion, up from the prior estimate of $5.3 billion. During 2015, fresh, pork imports are expected to total 400,000 MT, unchanged from November. The value is forecast at $1.5 billion, down from the previous forecast of $1.7 billion. To view the detailed report, including a world outlook, go to the ERS website at http://www.ers.usda.gov/.

North America

On February 19, USDA National Agriculture Statistic Service (NASS) released its annual Farms, Land in Farms, and Livestock Operations 2014 Summary. According to the report, in 2014, the number of farms in the U.S. is estimated at 2.1 million, down 18,000 farms from 2013. Total farm land in the U.S was down 1.0 million acres from 2013, equaling 913 million acres. The entire report can be found on the NASS website at http://www.nass.usda.gov/.

On February 20, USDA NASS released its monthly Cold Storage report. According to the report, as of January 31, 2015, beef in U.S. cold storage facilities equaled 490.9 million pounds. This was 14.4 percent more than last year and was 5.8 percent more than the five year average. More specifically, boneless beef in cold storage totaled 445.1 million pounds, which was 14.4 percent higher than a year ago. Beef cuts in cold storage equaled 45.9 million pounds, 13.9 percent more than last year. Meanwhile, at the end of January, 596.5 million pounds of pork was in U.S. cold storage. This was down 3.6 percent from the previous year and but was up 5.4 percent over the five year average. Specifically, the volume of hams in storage equaled 111.0 million pounds, which was 4.6 percent higher than a year ago. The volume of pork bellies in storage was 38.6 percent below last year, totaling 53.5 million pounds. Pork loins in storage equaled 39.8 million pounds, 7.1 percent less than a year ago. The volume of ribs in storage was down 15.5 percent from a year ago, amounting to 94.9 million pounds. Pork butts in cold storage totaled 25.1 million pounds, which was 18.5 percent higher than last year. Pork trimmings in storage totaled 59.3 million pounds, which was up 42.7 percent from a year ago. The volume of pork variety meats in cold storage was up 28.9 percent over last year, totaling 41.8 million pounds. To obtain the entire report, go to the NASS website at http://www.nass.usda.gov/.

On February 21, USDA NASS released its monthly Cattle on Feed report. According to the numbers, cattle and calves on feed for the U.S. slaughter market for feedlots with a capacity of 1,000 or more head equaled 10.71 million head on February 1, 2015. This was up slightly than one year ago but was 3.3 percent less than two years ago. During January, 1.79 million head of cattle were placed on feed, which was down 11.3 percent from one year ago and was down 4.7 percent from two years ago. Placements in most of the weight categories decreased from a year ago. More specifically, placements of feeder cattle weighing less than 600 pounds equaled 405,000 head, which was 13.8 percent lower than a year ago. Placements weighing 600 to 699 head were down 21.8 percent from a year ago, amounting to 340,000 head. Placements weighing 700 to 799 pounds totaled 477,000 head, which was 14.7 percent less than last year. Finally, placements weighing more than 800 pounds were 2.7 percent higher than a year ago, totaling 565,000 head.

In the meantime, during February, fed cattle marketings equaled 1.63 million head. This was 9.1 percent less than one year ago and was 15.2 percent less than two years ago. Additionally, according to the USDA NASS, cattle and calves on feed in feedlots with a capacity of 1,000 or more head comprised 81.6 percent of all cattle and calves on feed in the U.S. on January 1, 2015, up from 81.3 percent on January 1, 2014. Marketings of fed cattle for feedlots with a capacity of 1,000 or more head during 2014 represented 87.2 percent of all cattle marketed from feedlots in the U.S. This was up from 86.9 percent during 2013. The complete report, which also includes 2014 monthly cattle on feed estimates, as well as the number of feedlots, inventory, and annual marketings by size group for 2013 and 2014, can be found on the NASS website at http://www.nass.usda.gov/.

Pacific Rim

The Korea International Trade Association (KITA) recently published South Korea’s beef and pork import data for January 2015. According to the statistics, during January, South Korea imported 28,116 MT of beef, which was 55.0 percent more than the previous month but was slightly less than a year ago. More specifically, frozen beef imports equaled 23,461 MT, which comprised 83.4 percent of the total imports. Fresh, chilled beef imports equaled 4,655 MT. Beef imports from Australia rose 45.5 percent over the previous month to 15,266 MT. This was up 7.9 percent from a year ago. Australia was the main beef export market for South Korea with 54.3 percent of the total. During January, South Korea imported 10,559 MT of beef from the U.S., which was 77.9 percent higher than the previous month but was 12.1 percent lower than a year ago. The U.S. was the second largest beef import market for South Korea with 37.6 percent of the total. Beef imports from New Zealand during January totaled 1,777 MT, which was up 31.4 percent over the previous month but was down 6.6 percent from a year ago. In the meantime, during January, South Korea imported 41,354 MT of pork. This was 19.0 percent more than the previous month and was 48.9 percent more than a year ago. Pork imports from the U.S. during January equaled 11,454 MT, which was up 63.0 percent over the previous month and was up 3.5 percent from a year ago. The U.S. was the leading pork import market for South Korea with 27.7 percent of the total.

During January, South Korea imported 7,168 MT of pork from Germany. This was 5.0 percent more than the previous month and was 111.9 percent more than a year ago. South Korea’s pork imports from Chile during January rose 18.8 percent over the previous month to 2,661 MT. This was 6.7 percent higher than a year ago. To obtain additional data on South Korea’s red meat trade, visit the KITA website at http://www.kita.org/.

South America

Recently, Argentina’s National Service of Agriculture Food, Health and Quality (SENASA) published Argentina’s fourth quarter beef export statistics. The numbers include fresh beef, offals, processed beef and Hilton cuts. During the fourth quarter of 2014, Argentina exported 63,374 MT of beef. This was down 8.7 percent from the previous quarter but was up 10.3 percent over a year ago. Beef exports to Russia during the final quarter of 2014 equaled 14,273 MT, which was 35.2 percent lower than the previous quarter and was 8.6 percent lower than a year ago. During 2014, Argentina exported 64,055 MT of beef to Russia. This was 21.2 percent greater than 2013. Russia was the largest beef export market for Argentina with 26.3 percent of the total. Argentina’s beef exports to Hong Kong during the last quarter of 2014 equaled 7,830 MT. This was 8.8 percent less than the previous quarter and was 10.9 percent less than a year ago. During 2014, beef exports to Hong Kong totaled 34,897 MT, 7.9 percent below 2013. This accounted for 14.3 percent of Argentina’s total exports. During the fourth quarter, Argentina’s beef exports to Chile fell 12.4 percent from the previous quarter to 7,299 MT. However, this was up 9.5 percent from a year ago. During 2014, Argentina’s beef exports to Chile totaled 28,556 MT, which was 3.4 percent less than 2013. This comprised 11.7 percent of the total. During the fourth quarter, Argentina exported 4,398 MT of beef to Germany. This was 10.5 percent less than the previous quarter but was 13.3 percent more than a year ago. Total beef exports to Germany during 2014 equaled 18,318 MT, slightly higher than a year ago. This comprised 7.5 percent of the total. During 2014, Argentina’s largest market for exports of Hilton cuts was Germany with 59.5 percent of the total. The primary fresh beef export market was Chile with 25.2 percent of the total. Italy was the main export market for Argentina’s processed beef exports with 22.5 percent of the total. Russia was the largest export market for offals with 33.2 percent of the total. Overall, Argentina’s total beef exports during 2014 were 9.4 percent above 2013, totaling 243,242 MT.

Oceania

Recently, the Australian Lot Feeders’ Association (ALFA) and Meat & Livestock Australia (MLA) published the results of Australia’s fourth quarter cattle on feed survey. According to the numbers, as of December 31, 2014, Australia’s cattle on feed totaled 964,968 head, making it the highest number on record. This was up 6.3 percent over the previous quarter and was up 19.1 percent over a year ago. The majority of Australia’s cattle on feed were located in the state of Queensland, which had 522,997 head of cattle on feed. This accounted for 54.2 percent of the total. This was down 3.6 percent from the previous quarter. Combined, Queensland and New South Wales had 838,860 head, or 86.9 percent of the total. In the fourth quarter, Australia’s feedlot capacity equaled 1,142,877 head. This was slightly higher than the previous quarter and was nearly unchanged from a year ago. Queensland was the state with the largest feedlot capacity with 606,021 head, which comprised 53.0 percent of the total capacity. Combined, Queensland and New South Wales had a feedlot capacity of 866,096 head, 75.8 percent of the total. During the fourth quarter, Australia’s cattle marketings totaled 731,591 head, which was up 12.8 percent from the previous quarter and was up 18.7 percent from a year ago. Total marketings during 2014 equaled 2,695,995 head, which was 2.8 percent more than 2013 and was 7.6 percent more than 2012. The entire report can be found on the ALFA website at http://www.feedlots.com.au/.

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