Rebound in Foodservice and Diverse Pork Demand Drive Strong Month for Red Meat Exports
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March exports of U.S. pork were steady with last year’s volume and edged higher in value, according to data released by USDA and compiled by USMEF. Beef exports were below last March’s large volume, but export value was the highest since June 2023.
USMEF President and CEO Dan Halstrom explains that a rebound in foodservice in key markets like Korea and Japan and a diversified demand for pork led to the strong month for red meat exports. Those strong exports also brought outstanding per-head-slaughtered value to U.S. livestock producers at nearly $71 for pork and more than $450 for beef.
Pork exports totaled 260,430 metric tons (mt) in March, up 0.1% from a year ago, valued at $740.8 million – up 2% year-over-year and the seventh highest on record. March shipments to South Korea were among the largest on record, while exports also increased substantially to Central America, Colombia, Oceania, Vietnam and Malaysia. Pork export value per head slaughtered averaged $70.85, the highest in nearly three years and the fifth highest on record.
Through the first quarter, pork exports increased 6% to 762,784 mt, while export value climbed 7% to $2.11 billion. Although shipments to leading market Mexico trended lower in March, first-quarter exports to Mexico were still ahead of last year’s record pace.
March beef exports totaled 108,218 mt, down 10% from the large volume posted a year ago but still the highest of 2024. Export value was $889.9 million, down slightly from a year ago (-0.3%) but the highest in nine months. March export value equated to $454.62 per head of fed slaughter, the highest since mid-2022. March highlights included the third largest volume on record to the Caribbean, including an all-time high to the Dominican Republic, and shipments to the Middle East strengthened significantly. While March volumes to South Korea and Mexico were below last year, export value still trended higher.
January-March beef exports totaled 311,865 mt, down 4% from the first quarter of 2023, but export value increased 6% to $2.48 billion. Markets achieving first quarter value growth included South Korea, Mexico, Hong Kong, the Middle East, the Caribbean, Central America, Colombia, the Philippines and Singapore.
March exports of U.S. lamb were 35% below last year at 246 mt, while export value fell 5% to $1.5 million. But March shipments to the Caribbean, Mexico and Canada all trended significantly higher.
A detailed summary of the first quarter export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website.