U.S. Pork Exports Record-Large in 2024; Beef Export Value Trends Higher
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Exports of U.S. pork eclipsed previous highs in both volume and value in 2024, according to year-end data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef export value climbed 5% from 2023 despite a slight decrease in volume, as unit export values were record high. Lamb exports trended higher than a year ago in both volume and value.
USMEF President and CEO Dan Halstrom explains the increases were driven by diversification of export markets and delivered a value of $66 per head slaughtered on pork and $415 per fed head slaughtered on beef.
December pork exports totaled 267,132 metric tons (mt), slightly below last year’s large volume, while value increased 1% to $771.8 million. These results pushed the full-year volume to 3.03 million mt, up 4% from a year ago and topping the previous high (2.98 million mt) reached in 2020. Export value totaled $8.63 billion, up 6% from the previous record set in 2023.
In addition to Mexico, pork exports achieved annual volume and value records in Central America, Colombia, New Zealand, Malaysia and several Caribbean markets. Value records were reached in South Korea, Australia and the Dominican Republic.
December beef exports totaled 110,171 mt, up 1.5% from a year ago, while value climbed 4% to $897.6 million – the highest since July. For the full year, beef exports were 1.29 million mt, down 0.5% year-over-year, while value increased 5% to $10.45 billion.
Market diversification also paid dividends for beef exports, which achieved annual volume and value records in a number of emerging markets, including the Dominican Republic, Guatemala, Honduras, Panama, the Leeward-Windward Islands, Netherlands Antilles, Turks and Caicos, Cuba, Guyana, Singapore and Morocco. Value records were reached in the Bahamas, Bermuda, Qatar, Jordan and Bahrain.
A detailed summary of the 2024 export results for U.S. pork, beef and lamb, including market-specific highlights, is available from the USMEF website.