US beef exports topped $1 billion again in July, the fifth-highest on record, according to data released by the US Department of Agriculture and analyzed by the US. Formed the Meat Export Federation.
Pork exports remained below last year’s pace, but remained strong in Colombia and the Caribbean, and continued to outperform in Mexico, a major destination for US pork exports.
Beef exports in July were 126,567 tonnes, up 3% from the previous year. Exports increased by 7% to take him to $1.06 billion, breaking his $1 billion mark for the sixth time this year. Japan was the pacesetter for her exports in July, but export volumes to China/Hong Kong, ASEAN, Central America, the Caribbean and Colombia were also up year-on-year. Exports from South Korea and Taiwan eased in July, but both markets remain at record levels in 2022.
In his first seven months of the year, beef exports increased by 6% year-on-year to 870,471 tons, worth $7.2 billion (+29%). Export value per feed animal for slaughter is at a record level of over $475.00.
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“Global demand for U.S. beef continues to be remarkably resilient, especially at the retail level,” said USMEF President and CEO Dan Halstrom. It has benefited from a partial recovery, but that recovery is far from complete. Many markets are still gradually easing COVID restrictions, so we will certainly see further growth opportunities as restaurant traffic recovers. The headwinds are still strong,” he said.
Pork exports to Mexico continue to surpass last year’s levels, with prices rising
U.S. pork exports were worth $625 million (down 5%), he reached 208,095 tonnes in July, down 6% year-on-year. Last year, he exported just under 1.5 million tonnes from January to July, at a low level of US$4.24 billion (down 15%).
Exports to Mexico, the U.S.’s largest pork market, far surpassed last year’s record pace, while shipments to Colombia, the Caribbean and South Korea continued to rise in his July. Although exports to China and Hong Kong in July fell below the previous year’s level, they marked the highest level since September and the highest level in 12 months.
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“Pork exports declined year-on-year in July, but the unit price of U.S. pork in international markets is trending higher, even as prices at key competitors remain below year-over-year levels. There is good news,” Halstrom said. “Per capita exports in July reached $67.10, about the same as last year and the highest since July last year. It is done.”
Exports of US lamb trimmings in July reached 161 million tons, up from just last year’s he 49 million tons. Exports are worth $949,000 for him, up 58% from a year ago. By July, muscle trimmings exports were up 94% to his 1,282 tonnes, worth $7.7 million (up 82%). Led by the Dominican Republic and the Netherlands Antilles, exports to the Caribbean more than doubled year-on-year to 645 million tonnes (+110%) with a value of US$4.7 million, an increase of 99% . Exports to Mexico, the Philippines and Panama also increased.
A detailed summary of red meat export results for January through July, including market-specific highlights, is available on the USMEF website.
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Source: USMEF
