Beef exports set new records in May; pork exports reach 2022 high

U.S. beef exports established new volume and benefit information in May possibly, topping $1 billion for the fourth time this yr, in accordance to info unveiled by USDA and compiled by the U.S. Meat Export Federation. When pork exports ended up effectively down below previous year’s massive totals, shipments ended up the premier of 2022 in the two quantity and worth. U.S. lamb exports continued to craze higher, led by advancement in the Caribbean and Mexico. 

May beef exports achieved 135,006 metric tons, up 1% from the former significant posted in Might 2021. Export value climbed 20% to $1.09 billion, breaking the March 2022 document. For January by May possibly, beef exports increased 4% from a calendar year in the past to 613,266 mt, valued at $5.14 billion (up 34%). Exports to major marketplaces South Korea, Japan and China/Hong Kong now topped $1 billion each and every by means of May perhaps, while shipments also trended drastically higher to Taiwan, the Caribbean, the ASEAN location, the Center East and Central The united states. 

“For U.S. beef exports to retain a $1 billion-per-thirty day period speed is incredible less than any conditions, but it is in particular remarkable supplied the potent U.S. greenback, continued transport and logistical problems and the financial uncertainty our industry and intercontinental buyers deal with today,” says USMEF President and CEO Dan Halstrom. “Throughout a broad variety of marketplaces, the momentum for retail beef profits reached in the course of the pandemic carries on, and it really is now complemented by a solid rebound in the foodservice sector. Might quantity was actually down marginally to each Japan and South Korea, and yet exports nevertheless set a new report. That is a wonderful sign of soaring, wide-centered demand from customers for U.S. beef.” 

Might pork exports ended up 224,677 mt, down 21% from the huge calendar year-in the past whole but the highest every month volume due to the fact November. Export price was $655.1 million, down 24% but also the highest considering the fact that November. By way of Could, pork exports ended up down 20% from a 12 months ago to 1.07 million mt, valued at just below $3 billion (down 18%). Exports to Mexico and the Dominican Republic are on a report tempo in 2022, even though May perhaps exports had been also quite robust for Colombia. In spite of logistical difficulties, chilled pork exports greater to Japan and South Korea. 

“On the pork aspect, exports are nonetheless trailing the tremendous totals from the initially fifty percent of final year, but we’re viewing upward momentum in several marketplaces,” Halstrom says. “Shipments to Mexico are on a record pace and demand from customers is solid across most of the Western Hemisphere. China’s hog charges have improved about 40% due to the fact mid-June, which supports our forecast for some rebound in China’s desire for imported pork towards the stop of the calendar year. Even when China pulls bigger volumes from other suppliers, this has a favourable effects for U.S. pork in a number of worldwide marketplaces.” 

May perhaps exports of U.S. lamb improved 35% from a year in the past to 1,856 mt, even though export price climbed 40% to $2.55 million. Lamb muscle mass lower exports posted robust development in Mexico and the Caribbean, led by the Netherlands Antilles and Dominican Republic. January-May possibly lamb exports enhanced 46% from a yr in the past to 8,368 mt, when value jumped 68% to $12.5 million. Muscle reduce exports improved 80% in volume (875 mt) and 84% in value ($5.2 million). 

A specific summary of January-May possibly export results, including industry-distinct highlights, is obtainable from the USMEF internet site. 

Supply: U.S. Meat Export Federation, which is only dependable for the information provided, and wholly owns the information and facts. Informa Organization Media and all its subsidiaries are not responsible for any of the content contained in this data asset.