Although U.S. pork export volumes inched up 1.6 percent year-over-year during the month to 176,413 metric tons, U.S. pork export value fell 4.8 percent to $465.3 million due to the impact of retaliatory duties imposed by Mexico and China.
The duty rate on most U.S. pork entering Mexico increased from zero to 10 percent in early June and from 10 percent to 20 percent in early July. In China, the duty rate on U.S. pork and pork variety meat rose from 12 percent to 37 percent on April 1 and from 37 percent to 62 percent on July 6.
“Buyers outside of Mexico and China have stepped up to purchase our product, which is fantastic,” USMEF President and CEO Dan Halstrom said. “But they are capitalizing on a buying opportunity made possible by the higher costs of doing business in Mexico and China.”
During the month, Mexico was the leading volumes market for U.S. pork exports at 56,484 metric tons, while Japan was the leading value market at $127.2 million.
Meanwhile, the U.S. exported 116,575 metric tons of beef valued at $722 million in July, rising 11.6 percent and 15.8 percent year-over-year, respectively. The USMEF said the growth in beef shipments was, “led by another spectacular performance in South Korea and strong growth in Japan, Taiwan and Latin America.”
Japan was the leading volumes and value market for U.S. beef exports during the month, with the U.S. exporting 31,883 metric tons of beef valued at $196.3 million to the country in July.
U.S. lamb exports skyrocketed in July from a year prior, with export volumes totaling 1,209 metric tons valued at $2.2 million, up 103.9 percent and 46.2 percent, respectively. “While much of this growth is attributable to stronger lamb variety meat demand in Mexico, muscle cut exports trended higher to the Caribbean, the United Arab Emirates, the ASEAN region and Taiwan,” the USMEF said.
Mexico was the leading volumes and value market for U.S. lamb exports during the month, with the United States exporting 964 metric tons of lamb valued at $1.2 million to its southern neighbor.