Robust Red Meat Exports in November; Pork Remains on Record Pace
Hear/Download the Audio Report HERE.
November exports of U.S. red meat posted year-over-year gains across all categories, according to data released by USDA and compiled by The U.S. Meat Export Federation (USMEF). U.S. pork exports remained on a record pace, while beef and lamb shipments also increased substantially from November 2023. USMEF President and CEO Dan Halstrom explains what regions are driving that growth in this audio report.
Pork exports totaled 272,141 metric tons (mt) in November, up 5% from a year ago, while export value increased 6% to just under $783 million. These results included an especially strong month for pork muscle cut exports, which increased 6% to 221,652 mt. Muscle cut export value was the third highest on record at $671.4 million. Export value per head slaughtered was $72.20 in November, up 9% from a year ago and the highest since April.
Through the first 11 months of 2024, pork exports were also up 5% year-over-year in volume (2.76 million mt) and 6% in value ($7.85 billion). When December results are available, exports will exceed 3 million mt for the first time, topping the previous high (2.98 million mt) reached in 2020. Export value will exceed $8.5 billion, easily surpassing the 2023 record of $8.16 billion. Pork exports to Central America and Colombia already set annual records and exports are on a record pace to Mexico and the Caribbean. Export value will also be the highest on record for Oceania.
November beef exports increased 10% year-over-year to 109,288 mt, while value climbed 11% to $872.7 million. Export value per head of fed slaughter equated to $428.70 in November, up 13% from a year ago and the highest since June.
November beef exports also increased substantially year-over-year to the Caribbean, ASEAN and Central America. For January through November, beef exports increased 5% in value ($9.56 billion) from the same period in 2023, despite a 1% decline in volume (1.18 million mt).
A detailed summary of the January-November export results for U.S. pork, beef and lamb, including market-specific highlights, is available from the USMEF website.