USMEF: US beef exports in the first 8 months of 2024 to reach nearly 7 billion USD

Published 2024년 10월 29일

Tridge summary

US beef exports in August 2024 saw a decline of 6% to 102,682 tonnes, with a 4% drop in value to $845.9 million, marking the lowest since January 2024. Despite this, the first eight months of 2024 showed a modest 3% decrease in volume but a 4% increase in value, totaling 856,834 tonnes and nearly $7 billion respectively. The decrease was primarily due to reduced demand in major Asian markets, although growth was observed in Mexico, Taiwan, and the Middle East. Colombia's lifting of restrictions on US beef is expected to boost demand in Q4 2024. Cattle export prices in August 2024 were $391.19 per head, marking a 1% decrease from the previous year, while the overall average for the first eight months of 2024 was $414.88, showing a 5% increase.

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

Original content

US beef exports in August 2024 totaled 102,682 tonnes, down 6% from August 2023 and the lowest since January 2024. Export value fell 4% to $845.9 million. Overall, US beef exports for the first eight months of 2024 were down 3% in volume year-on-year to 856,834 tonnes, but up 4% in value to nearly $7 billion. “Demand for beef in major Asian markets was largely subdued in August 2024, but exports continued to grow well to Mexico, Taiwan and the Middle East,” said Dan Halstrom, President and CEO of USMEF. Colombia's lifting of restrictions on US beef at the end of September 2024 is also a positive development that will boost demand in the fourth quarter of 2024 in Latin America." In August, Mexico continued to have a strong demand for US beef, with exports to Mexico increasing by 2% compared to August 2023 in both volume (19,037 tonnes) and value (US$113.2 million). Overall, in the first 8 months of 2024, exports to Mexico increased by 13% to 153,591 tonnes, while value increased by ...

Source: Vinanet