Fueled by another outstanding performance from Mexico, August exports of U.S. pork increased year-over-year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. beef exports were below year-ago levels in August.
August demand for U.S. pork robust in Western Hemisphere, ASEAN region
August pork exports totaled 238,989 metric tons (mt), up 6% from a year ago but the second lowest of 2024. Export value increased 8% to $702.9 million. In addition to the strong results in Mexico, exports trended higher to Central and South America, the Caribbean and the ASEAN region. August shipments to Malaysia were record-large, while exports to Colombia achieved a value record.
For January through August, pork exports were just under 2 million mt, up 4% from a year ago, while valued climbed 7% to $5.68 billion. Pork export value was on a record pace through August, and USMEF projects both export volume and value will reach record highs in 2024.
“Mexico was once again the pacesetter for U.S. pork, but demand throughout the Western Hemisphere was outstanding in August,” says USMEF President and CEO Dan Halstrom. “Shipments to South America posted the highest value on record, while exports to Central America and the Caribbean also achieved strong growth. These markets are increasingly competitive, so it is essential that the U.S. industry defends its market share while also developing marketing efforts that help expand overall consumption.”
Beef exports trend higher to Mexico, Taiwan, Middle East, but lower overall
Beef exports totaled 102,682 mt in August, down 6% from a year ago and the lowest since January. Export value fell 4% to $845.9 million. Mexico’s demand for U.S. beef remained robust in August, while exports also trended higher to Taiwan, the Middle East and the ASEAN region. But these results were offset by lower shipments to Japan, South Korea and China/Hong Kong.
Through the first eight months of the year, beef exports were 3% below last year at 856,834 mt, but were 4% higher in value at just under $7 billion.
“Beef demand in our major Asian markets seemed to lose a bit of momentum in August, but exports held up well to Mexico, Taiwan and the Middle East,” Halstrom says. “The headwinds in Asia remain formidable, but we are encouraged by the region’s ongoing tourism rebound. The late-September removal of Colombia’s restrictions on U.S. beef is also a positive development. While this came too late to impact the August results, it will help bolster fourth-quarter demand in Latin America.”
