Latest Red Meat Export Results Include Another Record Month for Beef Export Value

U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom discusses highlights from the latest (November) red meat export results released by USDA, which include new value records for total beef exports ($1.05 billion) and beef variety meat ($116.1 million). November pork exports were lower than a year ago, but year-to-date export value maintained a record pace at more than $7.5 billion.

November beef exports totaled 123,641 metric tons (mt), up 7% from a year ago and the fourth largest of the post-BSE era. Export value was a record $1.05 billion, up 49% year-over-year and exceeding the previous high set in August 2021. For January through November, beef exports were on a record volume pace at 1.32 million mt, up 16% from a year ago. Beef export value, which had already set a new annual record through October, increased more than $2.5 billion from a year ago, soaring 39% to $9.59 billion. Beef exports to South Korea, China/Hong Kong and Central America have already set new annual records for both volume and value, while exports to Taiwan and the Dominican Republic reached new value records.

Pork exports totaled 237,547 mt in November, down 8% from a year ago, while value was 6% lower at $658.3 million. Through November, export volume fell slightly below the record pace of 2020 at 2.71 million mt, but export value increased 7% to $7.5 billion – rapidly approaching the annual record ($7.71 billion) set in 2020. Pork exports to Mexico already set a new annual value record ($1.54 billion) and are also on a record volume pace. Exports to Central America and the Philippines reached new annual highs for volume and value, while a new value record was set in Colombia. Pork exports to South Korea also shined in November, climbing 24% to nearly 14,000 mt, driven in part by strong retail demand for chilled U.S. pork.

A detailed summary of the January-November red meat export results is available from the USMEF website.

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The U.S. Meat Export Federation (www.USMEF.org) is the trade association responsible for developing international markets for the U.S. red meat industry. It is funded by USDA; the beef, pork, lamb, corn and soybean checkoff programs, as well as its members representing nine industry sectors: beef/veal producing & feeding, pork producing & feeding, lamb producing & feeding, packing & processing, purveying & trading, oilseeds producing, feedgrains producing, farm organizations and supply & service organizations. USMEF complies with all equal opportunity, non-discrimination and affirmative action measures applicable to it by contract, government rule or regulation or as otherwise provided by law. USMEF is an equal opportunity employer and provider.