USA: May beef export value highest in 11 months

Published 2024년 7월 8일

Tridge summary

In May 2024, U.S. beef and pork exports experienced mixed results, with beef exports reaching a value of $902.4 million, the highest in 11 months, despite a 5% decline in volume, and pork exports seeing a slight decrease in both volume and value. Japan, Mexico, and Taiwan were highlighted as the leading markets for U.S. beef exports, while Mexico, South Korea, and Central America showed strong demand for U.S. pork. Despite challenges such as the weak yen and the strong U.S. dollar, both beef and pork exports have seen overall growth in the first five months of 2024, with beef exports increasing by 5% in value and 4% in volume, and pork exports growing by 6% in volume and 7% in value.

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

Original content

The value of U.S. beef exports topped $900 million in May 2024, the highest since June 2023, according to data released by USDA and compiled by USMEF. Pork exports posted another solid performance in May, but were below last year in both volume and value. May beef exports totaled 110,133 metric tons (mt), down 5% from a year ago but the second-largest of 2024. Beef export value reached $902.4 million in May, 3% above last year and the highest in 11 months. For January through May, beef exports followed a similar trend, increasing 5% year over year in value to $4.29 billion, despite a 4% decline in volume (533,578 mt). “It has been encouraging to see demand stabilize in Japan, where U.S. beef certainly faces significant headwinds,” said USMEF President and CEO Dan Halstrom. “The tourism boom has provided a much-needed lift for Japan’s foodservice sector, and it is a source of optimism for buyers and importers. Taiwan and the ASEAN region were also bright spots for U.S. beef in May, ...

Source: Provisioner