Beef, pork export sales up on week
Pork and beef export sales both showed week-to-week improvements. The USDA says pork sales during the week ending September 16th were more than 32,000 tons, a jump of 29% on the week, with Mexico buying half of the total, but no purchases by China. Beef sales were nearly 16,000 tons, 3% higher, with Japan, South Korea, and China topping the list. Corn sales were up on the week, led by Canada and Mexico, while soybeans declined, even with solid interest from China, and wheat backed off from the previous week’s marketing year high. The USDA’s next set of supply and demand estimates is out October 12th.
Physical shipments of wheat were above what’s needed to meet projections for the current marketing year. The 2021/22 marketing year got underway June 1st for wheat, August 1st for cotton and rice, and September 1st for beans, corn, and sorghum, while 2020/21 kicked off October 1st, 2020 for soybean products. The marketing year for beef and pork is the calendar year.
Wheat came out at 355,900 tons (13.1 million bushels), down 42% from the week ending September 9th, but up 1% from the four-week average. The Philippines purchased 126,600 tons and Mexico bought 71,400 tons. Just over a quarter into the 2021/22 marketing year, wheat sales are 396.3 million bushels, compared to 495.4 million in 2020/21.
Corn was reported at 373,000 tons (14.7 million bushels). Canada picked up 135,800 tons and Mexico purchased 134,500 tons. Just over three weeks into the marketing year, corn sales are 982.1 million bushels, compared to 889.5 million this time last year.
Sorghum sales were 123,000 tons (4.8 million bushels), all to China. Sorghum exports are 89.5 million bushels, compared to 108.8 million a year ago.
Rice sales were 28,800 tons, 9% lower than the previous week and 41% below the four-week average. South Korea bought 20,000 tons and Canada picked up 4,700 tons. Rice exports are 789.0 million tons, compared to 624.4 million last year.
Soybeans were pegged at 902,900 tons (33.2 million bushels). China purchased 624,200 tons and Mexico bought 85,300 tons. So far, this marketing year, soybean sales are 852.2 million bushels, compared to 1.302 billion a year ago. Net sales of 10,000 tons (400,000 bushels) for 2022/23 delivery occurred with a sale to unknown destinations (12,000 tons) and a cancellation by Indonesia (2,000 tons).
Soybean meal came out at 45,000 tons, a decline of 53% from the week before and 24% from the four-week. Canada picked up 12,900 tons and the Philippines purchased 10,800 tons. Nearing the end of the 2020/21 marketing year, soybean meal sales are 12,280,900 tons, compared to 12,108,600 last year. Sales of 216,400 tons for 2021/22 delivery were mainly to Mexico (47,400 tons) and France (45,000 tons).
Soybean oil was reported 4,300 tons. Jamaica bought 4,000 tons and Mexico picked up 600 tons, while Canada canceled on 300 tons. Cumulative soybean oil sales are 691,600 tons, compared to 1,281,400 a year ago.
Upland cotton was pegged at 345,400 bales, 21% higher than the prior week and 27% above the four-week average. China purchased 219,800 bales and Turkey bought 52,700 bales. 2021/22 upland cotton exports are 6,652,400 bales, compared to 7,722,200 in 2020/21.
Net beef sales totaled 15,800 tons, an increase of 3% on the week and 17% from the four-week average. The reported purchasers were Japan (5,100 tons), South Korea (3,200 tons), China (3,000 tons), Taiwan (900 tons), and Canada (800 tons). Shipments of 18,200 tons were up 8% from the previous week and 1% from the four-week average, primarily to Japan (5,000 tons), South Korea (4,700 tons), China (3,500 tons), Taiwan (1,400 tons), and Mexico (1,200 tons). Net sales of 1,600 tons for 2022 delivery were reported to Mexico (1,100 tons) with a cancellation by South Korea (100 tons).
Net pork sales totaled 32,600 tons, a jump of 29% from the week before and 12% from the four-week average. The listed buyers were Mexico (16,300 tons), Japan (6,800 tons), Canada (2,000 tons), South Korea (1,900 tons), and Colombia (1,600 tons). Shipments of 36,100 tons were 40% larger than the prior week and 28% above the four-week average, mostly to Mexico (19,000 tons), Japan (4,800 tons), China (4,700 tons), Canada (1,900 tons), and South Korea (1,800 tons).