US: 2020 Pork Exports Shatter Previous Records; December Beef Exports Outstanding

Published 2021년 2월 8일

Tridge summary

U.S. pork and beef exports experienced mixed results in 2020, with pork exports hitting a record high of nearly 3 million metric tons, a 11% increase from 2019, while beef exports saw a 5% decrease to 1.25 million metric tons. The surge in pork exports was largely driven by demand from China, with exports to other countries helping to offset a decline in exports to China later in the year. Beef exports faced challenges due to foodservice restrictions but showed strength late in the year, fueled by retail and holiday demand. Despite the challenges, U.S. beef managed to regain market share in Japan and saw significant growth in South Korea. Meanwhile, lamb exports reached a record high in volume, though export value trended lower, with Mexico being the leading market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

U.S. pork exports reached nearly 3 million metric tons (mt) in 2020, topping the 2019 record by 11%, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork export value also climbed 11% to a record $7.71 billion. U.S. beef exports finished 2020 lower year-over-year, falling 5% in both volume (1.25 million mt) and value ($7.65 billion). But beef exports finished the year with very strong momentum, with fourth quarter volume up 4.5% from 2019 and posting one of the best months on record in December. “Obviously the surge in demand from China, especially in the first half of 2020, was a driving force behind the record performance for U.S. pork exports,” said USMEF President and CEO Dan Halstrom. “But China was not the only success story in 2020, as exports achieved growth in a broad range of markets. Diversifying export markets is a top priority for USMEF and the U.S. industry, and that strategy paid dividends – especially in the fourth ...

Source: Usmef