June 10, 2022

 

US exports of beef exceed US$1 billion, while pork exports decline

 

 

The US Meat Export Federation (USMEF) said for the third month in a row, beef exports from the country exceeded US$1 billion, while pork exports were below the large totals in 2021, the USMEF reported.

 

Based on USDA data compiled by the USMEF, beef exports reached 124,408 metric tonnes in April, up 3% from a year ago and the fifth highest on record, while export value soared 33% to US$1.05 billion, second only to the record US$1.07 billion set in March.

 

Pork exports in April were well below the high levels seen a year ago, but they regained steam in Japan and set new highs in the Dominican Republic.

 

Exports of beef to Taiwan and the Philippines reached new highs, with increases to Japan, China/Hong Kong, Indonesia, the Middle East, and the Caribbean. Beef exports increased 5% year over year to 478,260 metric tonnes, worth US$4.05 billion, from January to April (up 38%).

 

Export value to South Korea, the leading value destination for US beef, has already surpassed US$1 billion, up nearly 50% compared to a year ago.

Dan Halstrom, USMEF President and CEO, said meat demand is strengthening in other regions as well, fuelled by a strong rebound in the foodservice sector, even as beef exports reach record levels in America's largest Asian markets.

 

Halstrom warned that the April results did not reflect the full impact of recent COVID-19 lockdowns in China, which lasted into May and early June in some cases. Inflationary pressures on consumers' discretionary income, as well as the strengthening of the US dollar against some key trading partner currencies, are creating new headwinds for US red meat exports.

 

Pork exports totalled 212,876 metric tonnes in April, down 21% from last year's high figure. The value of exports was US$600.6 million, down 20%. Exports to the top market of Mexico remained strong in April, outpacing last year's record pace.

 

Exports to Japan, Honduras, and Colombia increased in April, and exports to the Dominican Republic set a new high. Pork exports totalled 842,804 metric tonnes in April, down 20% from a year ago and worth US$2.31 billion (down 18%). 

 

Halstrom said they estimate exports to China to pick up in the fourth quarter of this year, not to the peak levels of 2020, but to be better than they are now.

 

He also said exports to Mexico continue to hit new highs, and exports to Japan and a number of Latin American markets rose in April.

 

-      US Meat Export Federation