U.S. beef exports top $1 billion in August, while pork exports remain on record pace

Published Oct 6, 2021

Tridge summary

U.S. beef and pork exports reached record values in August, with beef exports surpassing $1 billion for the first time and pork exports showing strong growth. Despite COVID-related challenges, international buyers continue to value the quality and consistency of U.S. red meat. There has been significant growth in beef and pork exports to China, Japan, Korea, Mexico, and other markets. Lamb exports also show positive trends, particularly in muscle cuts. These results are expected to have positive implications for both the short-term and long-term outlook of U.S. red meat exports.

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

Original content

U.S. beef exports soared to another new value record in August, topping the $1 billion mark for the first time, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports posted another strong month in August, remaining ahead of the record pace established in 2020. August beef exports totaled 132,577 metric tons (mt), up 21% from a year ago and the second largest volume this year, while export value climbed 55% to $1.04 billion. For January through August, beef exports increased 18% from a year ago to 955,407 mt, with value up 34% to $6.62 billion. Exports were also 6% higher in volume and up 20% in value compared to the record pace established in 2018. Pork exports totaled 225,822 mt in August, up 4% from a year ago, and value increased 20% to $633.9 million as record shipments to Mexico and strong growth in several other markets helped offset the expected slowdown in muscle cut exports to China. For January through August, exports ...

Source: Usmef