In the first 10 months of 2022, the value of beef exports hit a record high, with a 18% increase compared to the same period in the previous year, generating a benefit of $10,000 billion. The volume of shipments totaled 1.2 million tons, a 4% increase year-on-year, despite a 3% decrease in price. The United States Meat Exporters Federation (USMEF) reported an 8% increase in shipments of bovine meat in October. Despite a weak purchasing power of importers due to currency fluctuations, the Japanese and South Korean markets absorbed 260,318 tons and 244,052 tons of beef, respectively, seeing a 4% decrease and 5% increase in value respectively. Exports to China also increased by 23% in volume and 32% in income generated.