Momentum Continues for U.S. Pork Exports; Beef Exports Still Trend Lower
Following the January trend, February U.S. pork exports saw a double-digit increase over last year, while beef exports were lower year-over-year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Pork Exports
U.S. pork exports for February totaled 219,729 metric tons (mt), up 11% from 2022, while export value increased by 10% to $596 million, fueled by pork variety meat exports that jumped 40% to nearly 48,000 mt, valued at $111.8 million (up 25%), the report says.
With Mexico and the Dominican Republic on record pace, pork exports to China and Hong Kong, Central America, the ASEAN region and Taiwan also trended higher year-over-year for the month.
USMEF President and CEO Dan Halstrom notes the momentum for pork variety meat exports continues after a value record-setting 2022.
“While this is largely attributable to a rebound in exports to China, demand is also strengthening in other markets including Mexico and the Philippines. It also reflects an improved labor situation, which has helped the U.S. industry increase its capture rate and broaden the range of destinations for pork variety meats,” Halstrom adds.
Total January and February shipments of U.S. pork exports are 37% above last year’s pace, the report notes.
Beef Exports
U.S. beef exports totaled 105,057 mt for the month, down 3% from a year ago, also dropping in value 16% to 757.8 million. To start off 2023, beef exports are down 9% to 206,000 mt from last year’s volume, with value also dipping 24% to $1.46 billion.
Exports to Japan and South Korea increased slightly in February compared to 2022, however value trended lower. Additionally, beef exports to Mexico, the Caribbean, the European Union and South Africa trended significantly higher year-over-year, the report says.
While still lower compared to last year, Halstrom is encouraged by the modest rebound compared to January.
“With Asian markets continuing to ease indoor mask mandates and eliminate travel restrictions, we expect to see a continued boost in restaurant traffic and foodservice demand as the year progresses,” Halstrom says.
The full summary of January and February export results for U.S. beef, pork and lamb, can be found on the USMEF website.
