April Pork Exports Largest in Nearly Three Years; Beef Exports Also Trend Higher
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April exports of U.S. pork reached the highest volume and value since May 2021, according to data released by USDA and compiled by USMEF. It was also a robust month for U.S. beef exports, which were the largest in 10 months and valued at just under $900 million. USMEF President and CEO Dan Halstrom has details in this week’s Audio Report.
Record shipments to Mexico bolster April pork exports
Fueled by a record performance in leading market Mexico and broad-based growth in several other regions, pork exports totaled 277,910 metric tons (mt) in April, up 14% from a year ago and the fifth largest on record. Export value climbed 18% to $778.8 million, the third highest on record. For January through April, exports increased 8% to 1.04 million mt, valued at $2.89 billion – up 10% from last year’s record pace.
Pork export value in April equated to $72.46 per head slaughtered, up 7% from a year ago and the third highest on record. The January-April average was $66.28, also up 7% from a year ago.
Mexico also shines for beef exports; demand improving in Japan
April beef exports totaled 111,580 mt, up slightly from a year ago and the largest since June 2023. Export value increased 5% to $898.7 million, also the highest since June. Shipments to Mexico reached the highest value in more than three years, topping $120 million. Despite a weak yen and other headwinds, April beef exports also trended higher to Japan Through the first four months of 2024, beef export value increased 5% year-over-year to $3.38 billion, despite a 3% decline in volume (423,445 mt).