August Pork Exports Above Year-Ago; Beef Exports Lower
Hear/Download the Audio Report HERE.
Fueled by another outstanding performance from Mexico, August exports of U.S. pork increased year-over-year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. beef exports were below year-ago levels in August. USMEF President and CEO Dan Halstrom has the details in this USMEF Audio Report.
August pork exports totaled 238,989 metric tons (mt), up 6% from a year ago but the second lowest of 2024. Export value increased 8% to $702.9 million. In addition to the strong results in Mexico, exports trended higher to Central and South America, the Caribbean and the ASEAN region. August shipments to Malaysia were record-large, while exports to Colombia achieved a value record.
For January through August, pork exports were just under 2 million mt, up 4% from a year ago, while valued climbed 7% to $5.68 billion. Pork export value was on a record pace through August, and USMEF projects both export volume and value will reach record highs in 2024.
Beef exports totaled 102,682 mt in August, down 6% from a year ago and the lowest since January. Export value fell 4% to $845.9 million. Mexico’s demand for U.S. beef remained robust in August, while exports also trended higher to Taiwan, the Middle East and the ASEAN region. But these results were offset by lower shipments to Japan, South Korea and China/Hong Kong. While it came too late to impact the August export results, Halstrom notes that U.S. beef regaining full access to the Colombian market will help bolster fourth-quarter demand.
Through the first eight months of the year, beef exports were 3% below last year at 856,834 mt, but were 4% higher in value at just under $7 billion.
A detailed summary of the January-August export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website.