U.S. beef exports reach highest volume since June 2023 in April

Published 2024년 6월 19일

Tridge summary

In April, U.S. beef exports reached 111,580 tons, the highest since June 2023, with a 5% increase in value to $898.7 million. Despite a 3% drop in volume in the first four months of 2024, the value rose 5% to $3.38 billion. Key markets like Mexico, the Caribbean, Central America, and the Middle East showed strong demand, driven by foodservice and currency advantages. Exports to Mexico surged 46% in volume and 48% in value, while Japan saw a 6% increase in volume and 11% in value. The Caribbean and Middle East also posted significant gains. Offal exports rose 14% in April, with notable increases in Egypt, Peru, Gabon, Chile, Honduras, and Morocco. Additionally, another report highlighted a 26% increase in volume to 4,882 tons, valued at US$25 million, representing a 32% increase in value, despite ongoing logistical and economic challenges in the region.

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

Original content

April U.S. beef exports totaled 111,580 tons, a slight increase from a year ago and the highest since June 2023. The value of exports increased 5% to $898.7 million, also the highest since June . In the first four months of 2024, the value of beef exports also increased 5% year-on-year to $3.38 billion, despite a 3% drop in volume (423,445 tonnes). “Mexico also continued to shine on the beef side, along with the Caribbean, Central America and the Middle East,” said U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom. “These markets are benefiting from foodservice demand and currency advantages compared to key Asian markets. Headwinds in Asia remain formidable, but Japan's tourism boom has helped solidify demand and exports have stabilized this year despite continued yen weakness and stiff competition from Australia. Robust retail and e-commerce demand has helped U.S. chilled beef continue to dominate in Korea and Taiwan.” Through April, U.S. beef accounted for 69% ...

Source: Beefpoint