The Straits Times
Published on Feb 12, 2013

Value of US pork, beef exports hit records in 2012


(REUTERS) - The United States (US) exported a record-large volume of pork in 2012 while the value of both pork and beef exports was the most ever despite a decrease in shipments as the year came to a close, government and trade group data released on Monday showed.

Pork exports totaled 2.26 million tonnes, up narrowly from 2011, with the value of those sales up 4 per cent at US$6.3 billion (S$7.8 billion), both records, according to the US Meat Export Federation, which compiles USDA data that was issued on Monday.

Beef export volume declined 12 percent to 1.13 million tonnes. But the value of the sales jumped 2 per cent to a record $5.51 billion in a year that saw all-time highs in Chicago Mercantile Exchange live cattle futures.

Growing global demand for meat propelled export volumes, while record animal feed prices amid the worst US drought in five decades forced up meat values, analysts said.