US: Beef export value climbs in June; pork trends lower in June but posts strong first-half

Published 2024년 8월 8일

Tridge summary

In the first half of 2024, U.S. beef exports reached their highest value in nearly two years, with a 3% year-over-year increase to $938.3 million despite a 4% decline in volume. Key markets like Japan, Korea, Taiwan, and Canada contributed to this growth. Pork exports saw a 9% decline in June but still achieved a 5% increase in value to $4.26 billion for the first half of the year. Beef exports also grew in Mexico, the Middle East, and the Caribbean, while pork exports to Central America surged by 21% in volume and 31% in value. U.S. lamb exports increased in volume but decreased in value. The article highlights the resilience and growth of U.S. meat exports despite economic challenges and retaliatory duties from China.

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

Original content

June exports of U.S. beef reached the highest value in nearly two years, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While June pork exports were lower year-over-year, shipments through the first half of the year remained ahead of the record value pace of 2023. Beef exports totaled 110,155 metric tons (mt) in June, down 4% from a year ago but the second largest of 2024. Export value reached $938.3 million, up 3% year-over-year and the highest since August 2022. Through the first half of the year, beef export value climbed 5% from a year ago to $5.22 billion, despite a 4% decline in volume (643,733 mt). “June beef exports performed very well in Japan, which was great to see given the significant headwinds U.S. beef has faced there this year,” said USMEF President and CEO Dan Halstrom. “Export value also rebounded nicely in Korea and shipments to Taiwan and Canada were outstanding. This made for another strong month in terms of export ...

Source: Usmef