April 11, 2023

US pork exports up in February, beef exports down year-on-year

Data from the US Department of Agriculture (USDA) and compiled by the US Meat Export Federation (USMEF) showed that US pork exports remained strong in February 2023, increasing by double digits in both volume and value compared to the same month last year, while US beef exports were lower year-on-year but increased from January's low totals, DRG News reported.

US pork exports for the month of February totaled 219,729 metric tonnes (mt), up 11% from the same month last year. The export value increased by 10% to US$596 million. This included the eighth-highest export volume ever for pork variety meat shipments, which increased by 40% to nearly 48,000 mt and reached a value of US$111.8 million, a 25% increase.

Through the month of February, total exports of pork and pork-variety meat rose 12% to 456,496 mt, worth US$1.24 billion (up 13%). For Mexico and the Dominican Republic, exports are growing at a record rate, and they are also trending higher year-on-year to China-Hong Kong, Central America, the ASEAN region, and Taiwan.

Dan Halstrom, USMEF President and CEO, said exports to China are once again on the rise, but demand is also growing in other markets, such as Mexico and the Philippines.

He said this reflects a more favourable labour market, which has aided the US meat industry in growing its capture rate and expanding the number of markets for pork variety meats.

The value of beef exports decreased 16% to US$757.8 million in February, totaling 105,057 mt, a 3% decrease from the same month last year. Exports for the first two months of the year totaled just under 206,000 mt, a 9% decrease from the high volume of last year, while export value fell 24% to $1.46 billion.

Although the value trended lower, exports to Japan and South Korea in February were slightly up from the same month last year. Exports of US beef to South Africa, the Caribbean, Mexico, and the European Union all trended higher year-on-year through February.

Halstrom said the USMEF anticipates higher restaurant traffic and foodservice demand in Asian markets, as countries there relax indoor mask mandates and eliminate travel restrictions.

-      DRG News