U.S Pork Exports Boast Big First Half; Beef Exports Below 2022's Record Pace
U.S. pork exports wrapped up an excellent first half of 2023 with another strong performance in June, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Although numbers are below the record pace established in 2022, June beef exports topped $900 million in value, pushing first-half export value to nearly $5 billion.
A Little Good News for the Pork Industry
USMEF notes pork exports totaled 245,964 metric tons (mt) in June, up 12% from a year ago, while export value climbed 6% to $691.4 million. During the first half of 2023, exports were 14% above last year’s pace at 1.47 million mt, valued at $4.05 billion (up 12%).
Of particular note, pork exports to Mexico are on a record pace, with first-half value up 21% to more than $1 billion. USMEF points out that first-half exports increased sharply year-over-year to the ASEAN region, Australia, Taiwan, the Dominican Republic and Chile, while also posting gains in China/Hong Kong, South Korea and Central America.
Pork variety meat exports continue to be a bright spot, surging by 32% in the first half to more than 297,000 mt, led by record-large shipments to China.
“Mexico is certainly the 2023 pacesetter for U.S. pork exports but what’s really exciting is that the industry is achieving such broad-based growth internationally,” Dan Halstrom, USMEF president and CEO, says in a release. “Exports are making impressive gains in the Western Hemisphere and reclaiming market share in many Asia-Pacific markets, and U.S. pork is well-positioned to continue gaining momentum in the second half.”
Bright Spots Remain for Beef Exports
On the beef side, exports totaled 115,107 mt in June, down 12% from a year ago and slightly below the May volume. Export value was $909.5 million, down 13% year-over-year but the highest since October and 4% above the value posted in May, USMEF reports. First-half beef exports were 10% below last year’s record pace at 669,176 mt. Meanwhile, export value was just under $5 billion – down 19% from a year ago but still 8% above the first half of 2021.
June beef exports to Taiwan were the largest in 14 months, while exports to Mexico continued to gain momentum and shipments to Canada, Hong Kong, South Africa and the Dominican Republic posted year-over-year gains. Although June exports to South Korea, China and Japan were below last year’s large totals, shipments to Japan improved notably in value from the previous month, analysts note.
“It was a challenging first half for beef exports, especially when compared to the blistering pace established a year ago,” Halstrom says in a release. “But we are encouraged to see that exports are still accounting for a consistently high percentage of total beef production, and variety meat exports have held up very well considering the decline in U.S. slaughter. These metrics continue to illustrate the important contribution of exports in maximizing beef carcass value.”
A detailed summary of the January-June export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website.
Read More:
Variety Meats: Unsung Hero of U.S. Pork Exports in 2022
U.S. Suppliers Meet Latin American Buyers at USMEF's Product Showcase
Pork Exports Continue to Soar in April, Shipments to Mexico Smash Records for 2023
Africa Offers Opportunities In U.S. Beef and Pork Exports, Barred By Supply Chain Challenges