In the latest CSO data published to the end of October, Irish beef exports to the US have dwindled to 87t for the month of October, the lowest this year following on from 93t in September. Prior to that, exports were in excess of 100t per month, with 213t shipped as recently as August. In the year to date, 1,560t have been exported to the US, valued at €8.6m.
Notably, it was predominantly offals that were shipped, accounting for 69t of the 87t total.
So-called “third country” Irish sales outside the EU were dominated by the Philippines and Hong Kong so far this year. Vietnam emerged as a significant player in October, taking 450t worth €1m. Sales to Hong Kong were 1,520t in October alone, almost as much volume as was shipped to the US for the entire year so far. This was worth €3.6m, while 827t were shipped to the Philippines, worth €1.2m in October.
For the year to the end of October, total sales to Hong Kong amounted to 12,461t worth €34m, while sales to the Philippines are 10,696t worth €17m, reflecting the fact that Filipino buyers are importing mainly lower-value offal and trimmings.
The drop in sales to the US reflects a well supplied market following restocking, which has also resulted in a dramatic drop in the value of US cattle from €5.40/kg in the middle of last year to €3.71/kg at present. This is after a currency-driven recovery in recent weeks.
It is also notable that Irish high-value steak cuts sold better in the home market and in Europe in the autumn of this year.
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Beef kill neck-and-neck with 2014
In the latest CSO data published to the end of October, Irish beef exports to the US have dwindled to 87t for the month of October, the lowest this year following on from 93t in September. Prior to that, exports were in excess of 100t per month, with 213t shipped as recently as August. In the year to date, 1,560t have been exported to the US, valued at €8.6m.
Notably, it was predominantly offals that were shipped, accounting for 69t of the 87t total.
So-called “third country” Irish sales outside the EU were dominated by the Philippines and Hong Kong so far this year. Vietnam emerged as a significant player in October, taking 450t worth €1m. Sales to Hong Kong were 1,520t in October alone, almost as much volume as was shipped to the US for the entire year so far. This was worth €3.6m, while 827t were shipped to the Philippines, worth €1.2m in October.
For the year to the end of October, total sales to Hong Kong amounted to 12,461t worth €34m, while sales to the Philippines are 10,696t worth €17m, reflecting the fact that Filipino buyers are importing mainly lower-value offal and trimmings.
The drop in sales to the US reflects a well supplied market following restocking, which has also resulted in a dramatic drop in the value of US cattle from €5.40/kg in the middle of last year to €3.71/kg at present. This is after a currency-driven recovery in recent weeks.
It is also notable that Irish high-value steak cuts sold better in the home market and in Europe in the autumn of this year.
Read more
Beef kill neck-and-neck with 2014
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