USA: March pork exports largest in nearly two years, beef exports show signs of a rebound

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Frozen Bone-In Beef

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United States

Published May 6, 2023

Tridge summary

SLIDES OF FIRST QUARTER EXPORT HIGHLIGHTS March exports of U.S. pork were the largest since May 2021, according to data released by USDA and compiled by USMEF. While below last year’s high volume, March beef exports were the largest since October. March pork exports totaled 260,195 metric tons (mt), up 17% year-over-year and the ninth largest volume on record. Export value was also ninth largest at $724 million, up 18% from a year ago.

Original content

These results capped a strong first quarter for U.S. pork as exports reached 716,691 mt, up 14% from a year ago, valued at $1.96 billion (up 15%). “It’s great to see U.S. pork exports continue to expand in many of our Western Hemisphere markets, but there is also notable momentum in the Asia Pacific,” said USMEF President and CEO Dan Halstrom. “With consumer activity in the region rebounding toward pre-COVID levels and U.S. pork very competitively priced compared to European product, 2023 holds excellent potential for broad-based growth.” Beef exports totaled 120,495 mt in March, down 5% from a year ago. Export value fell 17% to $892.6 million, but both volume and value were the highest in five months. Through the first quarter, beef exports were down 8% year-over-year to 326,494 mt, valued at $2.35 billion (down 22%). “U.S. beef exports faced considerable headwinds late last year and at the beginning of 2023, but the March results show some encouraging trends,” Halstrom said. ...

Source: Usmef