March bright spots for US beef include Caribbean, Middle East, and Mexico

Published 2024년 5월 21일

Tridge summary

In March, US beef exports saw notable growth in the Caribbean and the Middle East. The Caribbean experienced a 16% increase in volume and a 12% rise in value, driven by record exports to the Dominican Republic. The Middle East showed a strong rebound with a 30% increase in volume and a 22% rise in value, particularly due to higher shipments to Egypt and muscle cut exports to Gulf countries. Despite a slight decline in volume, Mexico remained a strong market with a 3% increase in export value. Overall, the first quarter demonstrated robust growth in US beef exports across these regions.

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

Original content

March was one of the best months ever for US beef exports to the Caribbean, where shipments climbed 16% from a year ago to 3,398 mt – the third largest on record, according to data released by USDA and compiled by the US Meat Export Federation (USMEF). Export value was the second highest on record, climbing 12% to $31.1 million. This performance was led by record-large exports to the Dominican Republic, which increased 17% from a year ago to 1,238 mt. Export value to the DR soared 30% to a record $15.4 million. First quarter exports to the Caribbean increased 18% in volume (9,037 mt) and 14% in value ($76.4 million). In addition to the DR’s strong performance, first quarter exports increased to the Netherlands Antilles, Leeward-Windward Islands, Cayman Islands, Barbados and Turks and Caicos Islands. Beef variety meats achieved dramatic growth in Trinidad and Tobago. Following a down year in 2023, the Middle East region’s demand for US beef rebounded impressively in the first ...

Source: The Cattle Site