INTERNATIONAL MEAT REVIEW Livestock, Poultry and Grain Market News September 26, 2013

Volume 17, No. 20

Trade Highlights The USDA Foreign Agricultural Service (FAS) recently published Livestock and Products Annual 2013 for the countries of Argentina and India. The reports include summaries, outlooks, slaughter data, livestock inventories, trade situation updates, consumption statistics, marketing and price analysis and current data on production and supply. The reports are available on the FAS Global Agricultural Information Network (GAIN) at http://gain.fas.usda.gov/.

North America The U.S. Customs and Border Protection (CBP), a division of 2013 Tariff Rate Quota Status of U.S. Beef Imports the Department of Homeland Security, recently published the As of September 23, 2013 most current data on U.S. beef imports under a tariff rate Annual 2013 Percent 2012 quota (TRQ). According to the numbers, as of September 23, Quota Imported of Quota Imported 2013, U.S. beef imports totaled 512,400 MT, which was 4.4 (M etric Tons) Level Quantity Filled Quantity percent less than the same period last year. Imports of beef Argentina 20,000 0 0.0% 0 from New Zealand totaled 144,803 MT. This was 8.1 percent Australia 378,214 136,715 36.1% 152,009 No Quota 120,268 ---144,893 greater than a year ago. This filled 67.9 percent of New Canada 200 64 32.0% 4 Zealand’s TRQ, compared to 62.8 percent the same period Japan No Quota 65,304 ---59,108 last year. Imports of beef from Australia totaled 136,715 MT. M exico 213,402 144,803 67.9% 133,990 This was 10.1 percent less than a year ago. It filled 36.1 New Zealand 20,000 15,688 78.4% 12,165 percent of the TRQ, which was down from 40.2 percent a year Uruguay Other Countries 64,805 29,558 45.6% 34,024 ago. Beef imports from Canada, which are not subject to a Total 512,400 536,193 TRQ, equaled 120,268 MT. This was 17.0 percent lower than Source: U.S. Customs and Border Protection a year ago. Imports of beef from Mexico, which also do not fall under a TRQ, were 10.5 percent higher than a year ago, totaling 65,304 MT. Beef imports from Uruguay through September 23 equaled 15,688 MT, 29.0 percent greater than a year ago. This filled 78.4 percent of Uruguay’s TRQ, compared to 60.8 percent a year ago. Beef imports from Argentina remained banned due to foot-and-mouth disease (FMD). The weekly report is available on the CBP website at http://www.cbp.gov/xp/cgov/trade/trade_programs/textiles_and_quotas/commodity/. Recently, CanFax published Canada’s current cattle on feed numbers for terminal feedlots with 1,000 or more head in the On Feed August 1, 2013 640,020 provinces of Alberta and Saskatchewan. According to the data, on September 1, 2013, Canada’s total cattle on feed equaled Placed on Feed During August 135,287 616,188 head. This was up 6.8 percent over one year ago but was Fed Cattle M arketed During August 149,778 down 1.0 percent from the five year average. The number of Other Disappearances During August 9,341 cattle placed on feed during August rose 13.3 percent over one 616,188 year ago to 135,287 head. However, this was 12.6 percent lower On Feed September 1, 2013 Source: CanFax than the five year average. Steers placed on feed totaled 85,946 head, which accounted for 63.5 percent of the total placements. Heifers placed on feed totaled 49,341 head. More specifically, feeder cattle placements weighing less than 600 pounds totaled 2,884 head, 1.3 percent less than a year ago. Feeder cattle placements weighing 600 to 699 pounds were 98.1 percent higher than a year ago, totaling 5,086 head. Placements weighing 700 to 799 pounds equaled 23,754 head, 107.6 percent greater than last year. Finally, placements of feeder cattle weighing more than 800 pounds totaled 103,563 head, which was 1.1 percent higher than a year ago. In the meantime, Canada’s fed cattle marketings during August totaled 149,778 head. This was down 10.9 percent from one year ago and was down 15.0 percent from the five year average. The complete report is available on the CanFax website at http://www.canfax.ca/. Canadian Cattle On Feed

in Alberta & Saskatchewan Feedlots

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North America (continued) On September 20, the USDA National Agricultural Statistics Service (NASS) released its monthly Cattle on Feed report. According to the data, as of September 1, 2013, cattle and calves 10,026 On Feed August l, 2013 on feed for the U.S. slaughter market for feedlots with a capacity Placed on Feed During August 1,788 Fed Cattle M arketed During August 1,883 of 1,000 or more head equaled 9.88 million head. This was 7.2 Other Disappearance During August 55 percent less than one year ago and was 7.7 percent less than two On Feed September 1, 2013 9,876 years ago. During August, 1.79 million head of cattle were placed on feed, which was 10.9 percent lower than one year ago Source: USDA National Agricultural Statistics Service and was 20.4 percent lower than two years ago. This was the lowest placements for August since the series began in 1996. More specifically, feeder cattle placements declined from a year ago in each weight category. Feeder cattle placements weighing less than 600 pounds equaled 405,000 head, which was 16.0 percent below a year ago. Placements weighing 600 to 699 pounds were down 12.2 percent from a year ago, amounting to 338,000 head. Placements of feeder cattle weighing 700 to 799 pounds totaled 430,000 head, 9.5 percent less than last year. Finally, placements of feeder cattle weighing more than 800 pounds were down 7.5 percent from a year ago, totaling 615,000 head. Meanwhile, during August, fed cattle marketings fell 3.7 percent from one year ago to 1.88 million head. Also, this was 8.3 percent lower than two years ago. This was the second lowest placements for the month of August since the series began. The entire report is available on the NASS website at http://www.nass.usda.gov/. U.S. Cattle on Feed

1,000 + Capacity Feedlots

1,000 Head

On September 20, USDA NASS released its monthly Cold Storage report. According to the data, as of August 31, 2013, beef in U.S. cold storage totaled 433.8 million pounds. This was nearly unchanged from a year ago but was slightly higher than the five year average. Beef stocks have declined for the past five months. More specifically, boneless beef in cold storage equaled 389.1 million pounds, which was up 5.5 percent over a year ago. The volume of beef cuts in storage was 30.0 percent lower than a year ago, amounting to 44.8 million pounds. In the meantime, as of August 31, U.S. pork in cold storage facilities totaled 540.0 million pounds, which was 7.8 percent less than the previous month but was 9.6 percent more than the five year average. Pork stocks have declined for the past four months. Specifically, the volume of hams in storage was 2.4 percent greater than a year ago with 200.6 million pounds. Pork bellies in cold storage totaled 19.1 million pounds, 34.6 percent greater than a year ago. Pork loins in storage were 23.1 percent lower than last year, amounting to 24.9 million pounds. The volume of pork ribs in cold storage equaled 47.9 million pounds, 17.0 percent less than a year ago. Pork trimmings in storage totaled 36.7 million pounds, which was down 30.4 percent from last year. Veal in U.S. cold storage on August 31 totaled 3.8 million pounds, which was 21.7 percent less than a year ago. Lamb and mutton in storage totaled 22.0 million pounds, 9.2 percent lower than last year. The complete report is available on the NASS website at http://www.nass.usda.gov/. On September 18, USDA NASS published its annual Livestock Historical Trace Records report. The report compares preliminary and final livestock estimates and final livestock production estimates. The entire report can be found on the NASS website at http://www.nass.usda.gov/.

Oceania Recently, the Economic Service of Beef + Lamb New Zealand (B+LNZ) released its Stock Number Survey. According to the data, as of June 30, 2013, total sheep in New Zealand equaled 30.94 million head, which was 1.0 percent less than a year ago. North Island sheep numbers were estimated at 14.83 million head, 2.8 percent lower than a year ago due to widespread drought conditions. South Island sheep numbers were up slightly over a year ago, totaling 16.11 million head. Yearlings declined 1.3 percent from a year ago to 9.74 million head. Breeding ewes totaled 20.21 million head, which was 1.0 percent less than last year. The lamb crop is estimated to total 24.43 million head, which is 7.7 percent lower than a year ago. Meanwhile, the Economic Service estimated New Zealand’s beef cattle herd at 3.69 million head on June 30, 2013. This was down 1.1 percent from a year ago. To obtain the complete report, visit the B+LNZ website at http://www.beeflambnz.com/.

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Pacific Rim Recently, Japan’s Agriculture and Livestock Industries Japan's Beef Imports for July 2013 Corporation (ALIC) published Japan’s beef and pork import data Jul YTD YTD YTD for July 2013. According to the statistics, Japan’s beef imports (M etric Tons) 2013 2013 2012 Change during July soared 92.7 percent higher than the previous month Total Beef* 69,089 311,925 290,941 7.2% to a 69,089 MT. This was the highest volume since April 2000. United States 28,053 103,335 71,737 44.0% Australia 31,130 166,991 183,496 -9.0% Additionally, this was up 37.3 percent over July 2012. The strong New Zealand 4,888 20,823 20,843 -0.1% monthly increase was due to Japanese importers holding back 19,963 124,660 121,134 2.9% customs clearances in June in order to avoid triggering the Chilled Total Frozen Total 49,080 186,924 169,515 10.3% safeguard. Specifically, frozen beef imports totaled 49,080 MT, *Includes cheek, head & cooked meats. which was up 145.4 percent over the previous month and was up Source: Japan's Agriculture & Livestock Industries Corporation 67.4 percent over July 2012. Fresh, chilled beef imports totaled 19,963 MT, which was up 26.3 percent over the previous month but was down 4.9 percent from July 2012. Japan’s beef imports from Australia during July equaled 31,130 MT, which was 71.0 percent higher than the previous month and was 4.8 percent higher than July 2012. Also, this was the single highest monthly volume since November 2011. Total year-to-date beef imports from Australia equaled 166,991 MT, 9.0 percent below a year ago. Australia was the leading source for Japan’s beef imports with 53.5 percent of the total. During July, Japan imported a record 28,053 MT of beef from the U.S. This was 105.0 percent more than the previous month and was 88.7 percent more than July 2012. Year-to-date beef imports from the U.S. were 44.0 percent higher than last year, totaling 103,335 MT. Japan’s beef imports from New Zealand during July rose 114.7 percent over the previous month to 4,888 MT. Also, this was up 53.8 percent over July 2012. Year-to-date beef imports from New Zealand totaled 20,823 MT, nearly unchanged from a year ago. Overall, Japan’s total year-to-date beef imports equaled 311,925 MT, 7.2 percent greater than the same period a year ago. During June, Japan’s beef marketings totaled 55,593 MT, which was down 22.1 percent from the previous month and was down 16.1 percent from a year ago. Imported beef marketings equaled 29,968 MT, 31.0 percent lower than a year ago. Domestic beef marketings totaled 25,625 MT, 12.1 percent higher than a year ago. At the end of June, Japan’s beef stocks totaled 103,806 MT, which was up 7.6 percent over the previous month and was up 16.6 percent over a year ago. Imported beef stocks were 23.8 percent more than a year ago, amounting to 90,499 MT. Domestic beef stocks equaled 13,307 MT, 16.2 percent less than last year. Japan’s pork imports during July rose 18.6 percent over June to 62,324 MT. However, this was down 5.0 percent from July 2012. More specifically, frozen pork imports equaled 36,467 MT, which (M etric Tons) Total Pork* was up 21.3 percent over the previous month but was down 18.5 United States percent from July 2012. Fresh, chilled pork imports equaled Denmark 25,854 MT, which was up 14.9 percent over the previous month Canada and was up 24.0 percent over July 2012. During July, Japan’s pork Chilled Total imports from the U.S. rose 17.1 percent over the previous month Frozen Total to 24,216 MT. Also, this was 3.4 percent higher than July 2012. *Includes edible offal. Total year-to-date pork imports from the U.S. equaled 165,422 Source: Japan's Agriculture & Livestock Industries Corporation MT, which was 11.2 percent less than a year ago. The U.S. was Japan’s primary source for pork imports with 39.2 percent of the total. Pork imports from Canada during July totaled 11,828 MT. This was 20.6 percent more than the previous month but was 31.1 percent less than July 2012. Total year-to-date pork imports from Canada were 20.1 percent less than last year, amounting to 78,570 MT. During July, Japan imported 8,892 MT of pork from Denmark, which was 33.4 percent higher than the previous month but was 28.6 percent lower than July 2012. Year-to-date pork imports from Denmark totaled 63,784 MT, 8.4 percent lower than last year. Overall, Japan’s total year-to-date pork imports equaled 422,323 MT, which was 5.3 percent less than the same period a year ago. Japan’s pork marketings during June totaled 125,600 MT. This was down 10.0 percent from the previous month and was down 9.3 percent from a year ago. Imported pork marketings totaled 57,843 MT, 12.8 percent less than last year. Marketings of domestic pork were down 6.1 percent from a year ago, amounting to 67,757 MT. At the end of June, Japan’s pork stocks equaled 172,991 MT. This was 2.8 percent less than the previous month but was 2.5 percent more than a year ago. Stocks of imported pork were up 1.0 percent over a year ago, totaling 149,949 MT. Domestic pork stocks equaled 23,042 MT, 13.2 percent higher than last year. Additional data can be found on the ALIC website at http://lin.alic.go.jp/alic/statis/dome/data2/e_nstatis.htm. Japan's Pork Imports for July 2013 Jul 2013 62,324 24,216 8,892 11,828 25,854 36,467

YTD 2013 422,323 165,422 63,784 78,570 163,734 258,573

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YTD 2012 445,907 186,379 69,668 98,274 149,475 296,347

YTD Change -5.3% -11.2% -8.4% -20.1% 9.5% -12.7%

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Pacific Rim (continued) The Korea International Trade Association (KITA) recently issued South Korea Red Meat Imports South Korea’s beef and pork imports for August 2013. According to Beef Imports for August 2013 the data, South Korea’s beef imports during August rose 19.4 Aug YTD YTD Percent percent over the previous month to 24,682 MT. However, this was (M etric Tons) 2013 2013 2012 Change down 7.9 percent from August 2012. Specifically, frozen beef U.S. 9,246 60,111 65,707 -8.5% imports totaled 20,950 MT, which accounted for 84.9 percent of the Australia 13,190 92,533 85,897 7.7% total. Fresh, chilled beef imports totaled 3,731 MT. During August, New Zealand 2,058 18,079 18,829 -4.0% South Korea imported 13,190 MT from Australia. This was up 16.6 Total Beef 24,682 172,650 173,567 -0.5% percent over the previous month and was up 1.6 percent over Pork Imports for August 2013 August 2012. Total year-to-date beef imports from Australia Aug YTD YTD Percent equaled 92,533 MT, which was 7.7 percent above a year ago. 2013 2013 2012 Change Australia was the main supplier of beef to South Korea with 53.6 (M etric Tons) U.S. 6,693 78,325 90,971 -13.9% percent of the total imports. Beef imports from the U.S. during 2,743 26,988 41,144 -34.4% August totaled 9,246 MT. Although this was 32.4 percent higher Canada 2,935 20,989 26,538 -20.9% than July, it was 13.9 percent lower than August 2012. Year-to-date Germany 2,393 21,740 25,276 -14.0% beef imports from the U.S. were 8.5 percent less than a year ago, Chile -36.4% Spain 1,876 11,568 18,178 amounting to 60,111 MT. During August, South Korea imported 625 6,715 12,669 -47.0% 2,058 MT of beef from New Zealand, which was down 2.6 percent Poland Total Pork 22,630 206,305 276,402 -25.4% from the previous month and was down 24.4 percent from August Source: Korea International Trade Association 2012. Year-to-date beef imports from New Zealand totaled 18,079 MT, 4.0 percent less than last year. Overall, South Korea’s total year-to-date beef imports equaled 172,650 MT, which was slightly less than the same period a year ago. In the meantime, South Korea’s pork imports during August fell 10.8 percent from July and 18.9 percent from August 2012 to 22,630 MT. This was the lowest single monthly total since August 2010. Pork imports from the U.S. during August equaled 6,693 MT, which was down 18.6 percent from the previous month and was down 25.2 percent from August 2012. Year-to-date pork imports from the U.S. were 13.9 percent less than a year ago, amounting to 78,325 MT. The U.S. was the largest provider of pork to South Korea with 38.0 percent of the total imports. During August, South Korea imported 2,743 MT of pork from Canada, which was the lowest single month total since November 2003. This was 6.6 percent lower than the previous month and was 39.9 percent lower than August 2012. Total year-to-date pork imports from Canada equaled 26,988 MT, 34.4 percent below a year ago. Pork imports from Chile during August totaled 2,393 MT. This was 6.5 percent less than the previous month and was 28.2 percent less than August 2012. Year-to-date pork imports from Chile were 14.0 percent lower than a year ago, amounting to 21,740 MT. Overall, South Korea’s total year-to-date pork imports equaled 206,305 MT, which was 25.4 percent below the corresponding period a year ago. Additional data on South Korea’s red meat trade can be found on the KITA website at http://www.kita.org/.

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Trade and Production Statistics Canadian S laughter Cattle Average Prices

U.S . Actual S laughter under Federal Inspection (# Head) Cattle Calves Hogs Sheep Goats

W/E 9/14/13

W/E 9/7/13

YT D 2013

YT D 2012

Percent Change

614,938 14,935

575,247 13,548

22,756,407 524,718

23,006,753 520,063

-1.1% 0.9%

2,170,903 1,983,006 77,209,103 77,327,931 -0.2% 41,299 36,138 1,493,185 1,400,842 6.6% 10,797 9,310 370,248 390,071 -5.1% Source: USDA AMS Livestock, Poultry & Grain Market News http://www.ams.usda.gov/mnreports/SJ_LS711.txt

W/E

W/E

Year

Percent

(U.S. $/cwt) Alberta Steers

9/14/13 $116.41

9/7/13 $115.54

Ago $111.41

Change 4.5%

Alberta Heifers Alberta Cows

$114.82 $75.31

$114.92 $74.12

$110.96 $77.23

3.5% -2.5%

Ontario Steers Ontario Heifers Ontario Cows

$118.29 $117.03 $73.94

$117.73 $116.67 $73.32

$110.49 7.1% $108.85 7.5% $65.80 12.4% Source: CanFax http://www.ams.usda.gov/mnreports/WA_LS718.txt

U.S . Red Meat Production W/E 9/14/13

W/E 9/7/13

YT D 2013

YT D 2012

Percent Change

487.9 2.0

461.5 1.8

18,017 76

18,073 81

-0.3% -6.3%

Pork 442.8 404.8 15,890 15,930 -0.3% Lamb/Mutton 2.6 2.4 105 105 0.1% Source: USDA AMS Livestock, Poultry & Grain Market News http://www.ams.usda.gov/mnreports/SJ_LS711.txt

(Million lbs) Beef Calf & Veal

Canadian Feeder Cattle Average Prices

Imported Meat Passed for Entry in the U.S . by Country (Metric T ons) Fresh Beef Fresh Pork Goat Lamb Mutton Veal

W/E

W/E

YT D

YT D

Percent

9/14/13 13,886 8,128 454 1,175 235 176

9/7/13 12,334 6,522 132 1,059 188 147

2013 562,962 256,077 12,128 42,175 10,356 6,081

2012 NA NA NA NA NA NA

Change -------

-------

Source: USDA AMS Livestock, Poultry & Grain Market News and FSIS http://www.ams.usda.gov/mnreports/lswimpe.pdf

W/E

W/E

Year

Percent

(U.S. $/cwt) Alberta Steers

9/14/13

9/7/13

Ago

Change

500-600 600-700 700-800 Alberta Heifers

$157.14 $150.65 $146.77

$153.82 $148.41 $145.54

$160.22 $150.94 $143.54

-1.9% -0.2% 2.3%

500-600 $137.76 600-700 $134.65 700-800 $132.71 Saskatchewan Steers

$138.39 $135.06 $134.05

$145.33 $137.49 $134.07

-5.2% -2.1% -1.0%

500-600 $155.51 600-700 $149.82 700-800 $144.31 Saskatchewan Heifers 500-600 $137.12 600-700 $133.69 700-800 $131.18

$149.50 $146.79 $140.69

$155.61 $146.57 $143.13

-0.1% 2.2% 0.8%

$135.89 $131.70 $130.32

$140.90 $135.12 $131.65

-2.7% -1.1% -0.4%

Source: CanFax http://www.ams.usda.gov/mnreports/WA_LS718.txt

Canadian Federally Inspected S laughter W/E

W/E

YT D

YT D

Percent

(# Head) Cattle

9/14/13 51,473

9/7/13 47,023

2013 1,821,960

2012 1,973,055

Change -7.7%

Calves Sheep Hogs

3,790 3,144 401,086

3,434 150,082 162,369 -7.6% 2,540 117,166 109,217 7.3% 334,897 13,970,456 14,184,965 -1.5% Source: Agriculture and Agri-Food Canada

Canada Red Meat Production (Million lbs)

W/E 9/14/13

W/E 9/7/13

YT D 2013

YT D 2012

Percent Change

43.5 87.5

40.0 74.3

1,503.0 3,030.0

1,623.2 3,090.6

-7.4% -2.0%

Beef Pork

Source: CanFax http://www.canfax.ca/

http://www.agr.gc.ca/redmeat/index_eng.htm

Exchange Rates

U.S . Livestock Exports to Mexico W/E W/E YT D YT D Percent (# Head) 9/14/13 9/7/13 2013 2012 Change Sltr Ewes 300 0 18,542 0 --Source: USDA AMS Livestock, Poultry & Grain Market News http://www.ams.usda.gov/mnreports/AL_LS635.txt

U.S . Livestock Imports from Mexico W/E

W/E

YT D

YT D

Percent

(# Head) 9/14/13 9/7/13 2013 2012 Change Feeder Cattle 4,851 9,738 586,305 1,054,588 -44.4% Source: USDA AMS Livestock, Poultry & Grain Market News http://www.ams.usda.gov/mnreports/AL_LS625.txt

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U.S. $ Converted to Major Currencies Australian Dollar Brazilian Real Canadian Dollar Euro Japanese Yen Mexican Peso New Zealand Dollar South Korean Won

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W/E 9/14/13

W/E 9/7/13

Year Ago

1.08 2.27 1.03 0.753

1.09 2.35 1.05 0.761

0.95 2.02 0.97 0.774

99.55 13.07 1.23 1084.6

99.55 13.31 1.26 1095.3

77.65 12.98 1.21 1127.1

Source: OANDA http://www.oanda.com/converter/classic

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International Meat Review, September 26, 2013

Page 6

Trade and Production Statistics U.S . Prices for Mexico Feeder Cattle Imports

Australia's Cattle, Lamb & S heep S laughter (# Head) Cattle Calves Lamb Sheep

W/E 9/14/13

W/E 9/7/13

YT D 2013

YT D 2012

Percent Change

152,369 17,688 351,816 145,441

146,556 18,798 345,697 126,328

5,155,073 395,689 12,117,307 5,026,480

4,608,096 417,125 11,758,088 2,826,571

11.9% -5.1% 3.1% 77.8%

Source: National Livestock Reporting Service

W/E 9/7/13

Year Ago

Feeder Steers, Medium & Large, 1 & 2 300-400 lbs $182-$195 $185-$195

$158-$170

(U.S. $/cwt, FOB)

W/E 9/14/13

400-500 lbs $166-$179 $169-$179 $145-$155 500-600 lbs $150-$166 $153-$163 $130-$142 Feeder Heifers, Medium & Large 1 & 2 400-500 lbs $150-$163 $142-$152 $128-$140 Source: USDA AMS Livestock, Poultry & Grain Market News http://www.ams.usda.gov/mnreports/AL_LS626.txt

Japanese Monthly Retail Beef Prices (U.S. $/cwt) Australia Chuck Roll Brisket Sirloin Round Wagyu Chuck Brisket Sirloin Round

Jul-13

Jul-12

Percent Change

$923.38 $909.73 $1,537.45 $818.76

$1,262.37 $1,256.63 $1,859.13 $963.99

-26.9% -27.6% -17.3% -15.1%

$2,806.53 $2,792.88 $5,203.67 $2,847.46

$3,528.90 $3,517.43 $6,615.97 $3,396.93

-20.5% -20.6% -21.3% -16.2%

U.S . Cold S torage

Source: Agriculture & Livestock Industries Corporation http://www.ams.usda.gov/mnreports/WA_LS681.txt

Additional Information Sources Include:                  

USDA Livestock, Poultry & Grain Market News (LPGMN) USDA Animal & Plant Health Inspection Service (APHIS) USDA Economic Research Service (ERS) USDA Foreign Agricultural Service (FAS) USDA National Agricultural Statistics Service (NASS) Agriculture and Agri-Food Canada CanFax Statistics Canada Agriculture, Fisheries, and Forestry – Australia (DAFF) Meat & Livestock Australia (MLA) Australian Lot Feeders’ Association (ALFA) New Zealand’s Beef + Lamb (B+LNZ) Agriculture and Livestock Industries Corporation (ALIC) Korea International Trade Association (KITA) Argentina’s Agriculture Food, Health and Quality (SENASA) Uruguay’s National Meat Institute (INAC) Food and Agriculture Organization (FAO) Various News Services

(Million Pounds) Beef Pork

Aug-13 433.8 540.0

Aug-12 432.8 585.8

Percent Change 0.2% -7.8%

Source: USDA National Agricultural Statistics Service http://www.nass.usda.gov/

Japanese Monthly Retail Pork Prices (U.S. $/cwt) Domestic Pork Normal Shoulder Normal Loin Normal Ham Bargain Loin Imported Pork Normal Loin Bargain Loin

Jul-13

Jul-12

Percent Change

$595.88 $1,100.78 $727.79 $814.21

$722.99 $1,411.56 $912.35 $963.99

-17.6% -22.0% -20.2% -15.5%

$682.30 $436.67

$837.76 $550.85

-18.6% -20.7%

Source: Agriculture & Livestock Industries Corporation http://www.ams.usda.gov/mnreports/WA_LS683.txt

The USDA Livestock, Poultry and Grain Market News staff makes every effort to provide factual news as it occurs in the market. As some of the information presented in this publication is contributed from worldwide sources, the accuracy and correctness cannot always be verified.