U.S. Beef Exports Set Annual Records; Strong Finish for Pork
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U.S. beef exports set annual records for both volume and value in 2022, according to year-end data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports finished lower year-over-year but export value was the third largest on record, led by an outstanding performance in Mexico.
USMEF President and CEO Dan Halstrom notes that beef export value reached $11.7 billion, a 10% increase over 2021, despite significant headwinds. Several key markets maintained COVID-related restrictions that hampered demand in the foodservice sector and key trading partner currencies slumped versus the U.S. dollar late in the year.
Pork exports to Mexico achieved a record-breaking year, with export value soaring 21% to top $2 billion for the first time. Exports to China also strengthened significantly in the second half of the year.
A detailed summary of 2022 red meat export results is available from the USMEF website.