U.S. beef export shipments were two percent higher last week, increasing by 286 metric tons to total 14,489 MT. The second week of marginal gains helps the export market recover, but recent weekly shipments remain under the 10-week average. Steep losses two weeks ago and small improvements since then keep this week’s four-week average two percent lower than the previous week’s figure.
Last week’s shipments were primarily to Japan (3,900 MT), Mexico (2,800 MT), Hong Kong (2,500 MT), South Korea (2,300 MT), and Canada (1,500 MT).
Weekly export sales plummeted by 5,357 metric tons which was 23 percent lower than the previous week. Last week’s beef export sales totaled 17,868 MT, ending three consecutive weeks of increases which rallied to moved beef export sales above the 27-week average ending with a new 10-week high two weeks ago. Export sales last week were led by Japan (7,800 MT), followed by Canada (2,600 MT), Hong Kong (2,000 MT), Mexico (1,300 MT), and Taiwan (1,000 MT).