China Buying Beef From the Us
In its October Livestock, Dairy, and Poultry Outlook study, the USDA's Economic Enquiry Service (ERS) indicated that, "U.Due south. beef exports in August set a new record of 325 million pounds, an increase of 57 million pounds, or 21 pct, from a year ago. August'southward increase in beef exports was driven primarily by China'south strong demand for U.South. beef. Gaining access to China's market in March 2020, coupled with China'south low domestic pork supplies and Australia'due south limited exportable beefiness supplies, has worked in the U.S. favor.
Since July 2020, monthly exports to Mainland china have been record-large in x months. China is now the U.S. third-largest beefiness destination.
"The U.S. largest beef exports in August went to Japan, totaling 77 million pounds, upward x percent from the previous yr. Beefiness exports to Nippon from May to Baronial were 13 percent higher compared to the aforementioned period a year ago partially due to the lowering of Japan'south tariff rate from 38.5 percent to 25 per centum on Apr 17. United mexican states was another key trading partner that contributed to the increase in beef exports in August; U.S. beef exports to Mexico were up ix.ii million pounds, or 49 percent, from a year ago when exports were limited past economic weakness in Mexico and Covid-19-related constraints. Yr-to-date, United mexican states'due south share of U.S. beefiness exports has been relatively stable at ix percent.
"In contrast, lower year-over-year beef exports were shipped to four of the vii major U.S. beef destinations in Baronial. Exports to South korea, the second-largest U.S. beef destination, were vi.7 million pounds or ix per centum lower, bookkeeping for the bulk of the reduction amid the major U.S. beef destinations. U.South. beef exports to Hong Kong were downwardly 26 percent or 4.5 1000000 pounds from a year ago, while primal trading partners Taiwan and Canada were 2.nine and i.six 1000000 pounds lower year over year, respectively. The fourth-quarter forecast for beefiness exports was unchanged from last month. The annual beef consign forecasts for 2021 and 2022 were likewise unchanged from last month at three.414 and 3.270 billion pounds, respectively."
With respect to U.S. pork exports, ERS stated that, "U.S. exports were 526 million pounds in August, down just slightly from a year agone. Mexico and Japan together accounted for over half of Baronial'south shipments. Major export destinations in August are listed below.
The Outlook explained that, "Information technology is notable that Communist china\Hong Kong's share of Baronial exports declined from 22 pct in 2020 to eleven percent this yr. The China Ministry of Agriculture's alive grunter toll serial show that prices declined to 13.45 yuan per kilogram in the third week of September this twelvemonth—significantly below production costs and roughly equivalent to where prices were in 2018, shortly after African Swine Fever had been identified in Northern China.
"Based on expectations that 2021 Mainland china pork supplies will reflect increased domestic production and reduced imports, U.S. export forecasts for the third and 4th quarters of 2021 are reduced past 25 and 110 million pounds, respectively. Total U.Due south. pork exports are forecast at 7.ii billion pounds, about 1.1 percent below exports in 2020."
ERS added that, "In recently released product, supply, and distribution information for China in 2022, USDA, Foreign Agronomical Service shows a 5-percent decline in pork production to 43.75 meg metric tons (MT). To partially offset the decline, China'southward pork imports next year are expected to increase past more than five percent, to almost four.8 meg MT. Coupled with expected import growth in several other important markets, including United mexican states and Republic of korea, U.S. pork exports are raised 105 one thousand thousand pounds next yr to 7.iv billion pounds, nearly 3 percent above shipments in 2021. About of the 2022 increase is expected to occur in the second half of the year."
Source: https://farmpolicynews.illinois.edu/2021/10/china-emerges-as-the-third-largest-market-for-u-s-beef-and-remains-a-key-factor-in-u-s-pork-exports/
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