US beef exports boast strong value, pork remains robust
DENVER — US pork exports remained strong in February, fueled by growth in the Western Hemisphere, South Korea and Australia, according to data released by US Department of Agriculture and compiled by the US Meat Export Federation (USMEF). Meanwhile, February beef exports volume dipped slightly from last year, but value increased by 10%.
US pork exports to Mexico, the leading market, are well ahead of last year’s record pace. Shipments are also trending higher to Korea, Central and South America, Oceania, and the Caribbean.
“Coming off a record value year, it’s great to see broad-based momentum for pork exports continue globally into 2024,” said Dan Halstrom, USMEF president and chief executive officer. “While Mexico is certainly at the forefront, we are seeing excellent growth in markets like Colombia, Chile, El Salvador and the Caribbean, and demand has rebounded impressively in Korea and Australia.”
Beef exports totaled 103,883 metric tonnes in February, down 1% from a year ago, but export value jumped 10% to $830.4 million.
February beef exports to the Caribbean were the largest on record at 2,955 metric tonnes, up 25% from last year. Demand from Mexico and Central and South America continued to trend higher as well. USMEF noted that Mexico continues to be a bright spot for beef as demand grows in both foodservice and retail with added interest in muscle cuts and variety meats. Exports increased year-over-year to Taiwan, and Korea posted an increase in export value.
“Tight beef supplies are definitely a challenge for exporters, and that situation isn’t going to change anytime soon,” Halstrom said. “But on a positive note, we are seeing more opportunities for underutilized beef cuts, including the round, shoulder clod and variety meat, in the global marketplace. Demand is strong throughout the Western Hemisphere and the foodservice and hospitality sectors are finally gaining some momentum in key Asian markets such as Korea, where the post-COVID recovery has been slower than anticipated.”
Coming off a strong performance in January, US lamb exports boasted another robust performance in February, climbing 11% from a year ago to 270 metric tonnes. Export value increased 18% to $1.5 million. Growth was led by the Bahamas, the Leeward-Windward Islands and Canada. Lamb saw fewer exports to Mexico but still climbed 26% in value to just under $600,000.
USMEF reported pork exports up 14% year-over-year to 250,930 metric tonnes, while value climbed 15% to $685.1 million.