News
Beef, pork export sales down on week
U.S. meat exports during the week ending July 8th failed to hold at the previous week’s lofty levels. That is due in part to it being a holiday week, with many U.S. operations closed July 5th in observance of Independence Day. The USDA says pork export sales of 10,600 tons were down 76% on the week, with a net reduction by China, and beef export sales of 9,300 tons were 61% less than the week before. Grain and oilseed sales were generally routine, with U.S. sellers facing plenty of competition and demand partially limited by relatively high prices. The USDA’s next set of supply and demand estimates is out August 12th.
The 2021/22 marketing year started June 1st, 2021 for wheat, while 2020/21 got underway August 1st, 2020 for cotton and rice, September 1st, 2020 for corn, sorghum, and soybeans, and October 1st, 2020 for soybean products. The marketing year for beef and pork is the calendar year.
Wheat came out at 424,700 tons (15.6 million bushels), up 46% from the week ending July 1st and 44% from the four-week average. Unknown destinations purchased 132,700 tons and the Philippines bought 80,100 tons. Just over a month into the 2021/22 marketing year, wheat sales are 261.5 million bushels, compared to 303.3 million in 2020/21.
Corn was reported at 138,800 tons (5.5 million bushels), 20% less than the previous week, but 31% more than the four-week average. Japan picked up 191,500 tons and Mexico purchased 77,700 tons, but unknown destinations canceled on 104,300 tons. With less than two months remaining in the 2020/21 marketing year, corn sales are 2.750 billion bushels, compared to 1.712 billion late in 2019/20. Sales of 133,200 tons (5.2 million bushels) for 2021/22 delivery were mainly to unknown destinations (76,600 tons) and Mexico (32,000 tons).
Sorghum sales of 400 tons were to China. Sorghum exports are 284.7 million bushels, compared to 168.6 million this time last year.
Rice sales were 9,800 tons, a drop of 51% from the week before and 74% from the four-week average. Honduras bought 2,500 tons and Canada picked up 2,400 tons. In the final stretch of the marketing year, rice exports are 3,355,200 tons, compared to 3,350,400 a year ago.
Soybeans were pegged at 21,700 tons (800,000 bushels), 66% below the prior week and 76% under the four-week average. Indonesia purchased 61,500 tons and France bought 18,500 tons, but unknown destinations canceled on 107,900 tons. So far, this marketing year, soybean sales are 2.275 billion bushels, compared to 1.693 billion last year. Sales of 290,800 tons (10.7 million bushels) for 2021/22 delivery were primarily to Mexico (248,600 tons) and unknown destinations (19,700 tons).
Soybean meal hit a marketing year low at 70,700 tons, a decline of 67% on the week and 72% from the four-week average. Unknown destinations picked up 20,000 tons and Israel purchased 10,000 tons, while Guatemala canceled on 2,800 tons. In the final quarter of the marketing year, soybean meal sales are 11,521,200 tons, compared to 11,364,900 a year ago. Sales of 126,400 tons for 2021/22 delivery were to Mexico (123,300 tons) and Canada (3,100 tons).
Soybean oil had a net reduction of 900 tons following a cancellation by Canada. Cumulative soybean oil sales are 676,500 tons, compared to 1,223,900 last year.
Upland cotton came out at 34,500 bales, 34% lower than the previous week and down 51% from the four-week average. Turkey bought 11,400 bales and Pakistan picked up 7,500 bales. 2020/21 upland cotton sales are 16,150,800 bales, compared to 17,019,300 in 2019/20. Sales of 116,400 bales for 2021/22 delivery were mostly to Turkey (58,600 bales) and Pakistan (25,400 bales).
Net beef sales totaled 9,300 tons, a decrease of 61% from the week before and 44% from the four-week average. The listed purchasers were Japan (3,000 tons), Mexico (1,800 tons), China (1,600 tons), Taiwan (700 tons), and South Korea (600 tons), with a cancellation by Indonesia (100 tons). Shipments of 15,500 tons were 13% less than the prior week and 15% under the four-week average, mainly to Japan (4,100 tons), South Korea (3,800 tons), China (3,300 tons), Taiwan (1,100 tons), and Mexico (1,000 tons).
Net pork sales totaled 10,600 tons, a drop of 76% on the week and 68% from the four-week average. The reported buyers were Mexico (3,500 tons), Japan (3,100 tons), Honduras (900 tons), Colombia (800 tons), and Chile (500 tons), with a cancellation by China (3,500 tons). Shipments of 25,200 tons were down 17% from the previous week and 25% from the four-week average, primarily to Mexico (11,400 tons), China (4,900 tons), Japan (3,500 tons), Canada (1,300 tons), and South Korea (1,200 tons).
