October pork exports in United States are the largest in 16 months, beef exports already reach $10 billion

Published 2022년 12월 7일

Tridge summary

October exports of U.S. pork and beef saw significant increases compared to the previous year, with pork exports reaching their highest since June 2021 at 238,198 metric tons, and beef exports increasing by 8% to 125,466 metric tons. Pork export value reached a record high of $697.3 million, and beef export value increased to $929.8 million, despite challenges such as currency devaluation and COVID-related restrictions in Asia. Pork variety meat exports experienced record growth, with a significant increase in shipments to Mexico and China/Hong Kong. Beef exports to China/Hong Kong saw a 21% increase, making it the second highest value destination for U.S. beef behind South Korea. Lamb muscle cut exports also saw a notable increase of 18% in October. Overall, the January-October export results show a mixed performance for pork and beef, with pork exports being 12% below last year and beef exports experiencing an 18% increase in value from the record pace.

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

Original content

October exports of U.S. pork were the largest in more than a year and beef export volume also increased from a year ago, according to data released by USDA and compiled by USMEF. Pork exports reached 238,198 metric tons (mt) in October, up 5% from a year ago and the largest since June 2021. Pork export value increased 13% to $697.3 million, the highest since May 2021. For January through October, pork exports were 12% below last year at 2.18 million mt, valued at $6.26 billion (down 8%). USMEF President and CEO Dan Halstrom noted that the October pork results were bolstered by outstanding growth in variety meat exports, which set a new value record at $126.2 million. Export volume was the second largest on record at more than 55,000 mt. “The recent rebound in pork variety meat exports is tremendous news for the U.S. industry on a few different fronts,” Halstrom said. “While exports to China have regained momentum, our ongoing efforts to diversify destinations for pork variety ...

Source: Usmef