Exports of U.S. beef and pork posted year-over-year increases in October, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Dan Halstrom, USMEF president and CEO, reports pork exports are well-positioned to set annual volume and value records in 2024. Halstrom also comments on the October rebound for beef exports to South Korea and China, which complemented strong shipments to Western Hemisphere markets.
October beef exports totaled 105,269 metric tons (mt), up 1% from a year ago, while value increased 3% to $860.4 million. Shipments to Mexico maintained their impressive 2024 performance in October, while exports rebounded to South Korea and China/Hong Kong and increased year-over-year in Central America, the Caribbean and the ASEAN region. For January through October, beef export value was 4% above last year at $8.68 billion, despite a 2% decline in volume (1.066 million mt).
Pork exports reached 252,411 mt in October, up 3% from a year ago, while value also climbed 3% to $710.4 million. Although shipments to leading market Mexico declined slightly, this was more than offset by growth in Japan, Central America, the Caribbean, Oceania and the ASEAN region. Through the first 10 months of 2024, pork exports increased 5% from a year ago to 2.49 million mt, valued at $7.07 billion (up 6%). For the year, exports are projected to surpass 3 million mt for the first time, exceeding the 2020 volume record (2.98 million mt) and topping last year’s value record ($8.16 billion).
A detailed summary of the January-October export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website.
Comments