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Beef, pork export sales up on week

U.S. meat export sales moved higher during the week ending November 25^th. The USDA says pork sales topped 40,000 tons, with about three quarters of that to Mexico and China, while beef sales were more than 20,000 tons, mainly to South Korea and China. Corn and soybean sales were down on the week, but both held above a million tons, while wheat exports notched a marketing year low. The USDA’s next set of supply and demand estimates is out Thursday, December 9^th.

The 2021/22 marketing year started June 1^st for wheat, August 1^st for cotton and rice, September 1^st for beans, corn, and sorghum, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 79,900 tons (2.9 million bushels), down 86% from the week ending November 18^th and 80% from the four-week average. Colombia purchased 38,400 tons and Mexico bought 16,800 tons. Close to the halfway mark of the 2021/22 marketing year, wheat sales are 526.2 million bushels, compared to 679.5 million in 2020/21. Sales of 26,000 tons (1 million bushels) for 2022/23 delivery were to Colombia.

Corn was reported at 1,020,800 tons (40.2 million bushels), 29% lower than the previous week and 12% below the four-week average. Mexico picked up 423,800 tons and Canada purchased 198,200 tons. Nearing the end of the first quarter of the marketing year, corn sales are 1.395 billion bushels, compared to 1.508 billion this time last year. Sales of 300 tons for 2022/23 delivery were to Costa Rica.

Sorghum sales were 284,700 tons (11.2 million bushels). China bought 337,700 tons, while unknown destinations canceled on 53,000 tons. Sorghum exports are 158.8 million bushels, compared to 178.4 million a year ago.

Rice sales were 32,900 tons, 56% under the week before and down 47% from the four-week average. El Salvador picked up 8,000 tons and Mexico purchased 7,300 tons. Rice exports are 1,360,000 tons, compared to 1,458,700 last year.

Soybeans were pegged at 1,063,400 tons (39.1 million bushels), a decrease of 32% from the prior week and 29% from the four-week average. China bought 657,100 tons and Egypt picked up 68,000 tons. So far, this marketing year, soybean sales are 1.366 billion bushels, compared to 1.921 billion a year ago. A net sales reduction of 48,000 tons (-1.8 million bushels) for 2022/23 followed a cancellation by unknown destinations.

Soybean meal came out at 146,700 tons, up 7% on the week, but down 29% from the four-week average. Guatemala purchased 50,000 tons and unknown destinations bought 28,000 tons. At this point in the marketing year, soybean meal sales are 5,427,400 tons, compared to 5,101,300 last year. A net reduction of 1,000 tons for 2022/23 followed cancellations by Japan (600 tons) and the Netherlands (400 tons).

Soybean oil was reported at 49,300 tons, an increase of 17% from the previous week and 50% from the four-week average. India picked up 30,000 tons and Algeria purchased 22,000 tons, which were switched from unknown destinations. Cumulative soybean oil sales are 303,100 tons, compared to 390,000 last year.

Upland cotton was pegged at 374,900 bales, a jump of 90% from the week before and a steep rise from the four-week average. Vietnam bought 174,100 bales and China picked up 123,600 bales. 2021/22 upland cotton exports are 9,345,300 bales, compared to 9,861,000 in 2020/21.

Net beef sales totaled 21,600 tons, 12% more than the prior week and 5% above the four-week average. The reported purchasers were South Korea (10,700 tons), China (3,300 tons), Japan (2,900 tons), Mexico (2,000 tons), and Chile (900 tons), with reductions by Italy (100 tons) and Thailand (100 tons). Shipments of 16,500 tons were down 9% on the week and 6% from the four-week average, mainly to South Korea (4,500 tons), Japan (4,000 tons), China (3,000 tons), Taiwan (1,500 tons), and Mexico (1,200 tons). Sales of 10,400 tons for 2022 delivery were primarily to South Korea (7,000 tons), Japan (2,200 tons), Taiwan (300 tons), Vietnam (300 tons), and Hong Kong (200 tons), with a cancellation by China (100 tons).

Net pork sales totaled 41,400 tons, considerably larger than the previous week and 48% larger than the four-week average. The listed buyers were Mexico (19,600 tons), China (12,400 tons), Japan (3,700 tons), South Korea (1,600 tons), and Colombia (1,100 tons). Shipments of 36,500 tons were an increase of 26% from the week before and 13% from the four-week average, mostly to Mexico (19,800 tons), Japan (4,700 tons), South Korea (3,200 tons), China (3,100 tons), and Colombia (1,900 tons). Sales of 4,100 tons for 2022 delivery were mainly to South Korea (1,500 tons), Canada (1,300 tons), Chile (400 tons), Colombia (300 tons), and Mexico (200 tons).