November exports of U.S. red meat posted year-over-year gains across all categories, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. pork exports remained on a record pace, while beef and lamb shipments also increased substantially from November 2023.
November beef exports increased 10% year-over-year to 109,288 mt, while value climbed 11% to $872.7 million. For January through November, exports increased 5% in value ($9.56 billion) from the same period in 2023, despite a 1% decline in volume (1.18 million mt).
“Despite continued economic headwinds in Asia, demand for U.S. beef strengthened in South Korea, China and Taiwan, and exports were fairly steady to Japan,” Halstrom said. “The strong performance in Mexico and outstanding demand for variety meat in Egypt were also critical for bolstering carcass value.”
Pork exports totaled 272,141 metric tons (mt) in November, up 5% from a year ago, while export value increased 6% to just under $783 million. These results included an especially strong month for pork muscle cut exports, which increased 6% to 221,652 mt. Muscle cut export value was the third highest on record at $671.4 million.
“Another terrific month for pork demand in Mexico and throughout the Western Hemisphere,” noted USMEF President and CEO Dan Halstrom. “It was also encouraging to see exports trend higher to Japan and sustain strong growth in Oceania and Southeast Asia.”
Through the first 11 months of 2024, pork exports were also up 5% year-over-year in volume (2.76 million mt) and 6% in value ($7.85 billion). When December results are available, exports will exceed 3 million mt for the first time, topping the previous high (2.98 million mt) reached in 2020. Export value will exceed $8.5 billion, easily surpassing the 2023 record of $8.16 billion.
Published: Jan 08, 2025 - U.S. Meat Export Federation - View Complete Article
