Strong month keeps pork exports on record pace in the US

Published 2024년 12월 9일

Tridge summary

U.S. beef and pork exports experienced year-over-year increases in October, with pork exports on track to set record highs in 2024. Beef exports saw a 1% increase in volume and a 3% increase in value, with significant growth in shipments to Mexico, South Korea, and China/Hong Kong. Pork exports rose by 3% in both volume and value, driven by growth in Japan, Central America, the Caribbean, Oceania, and the ASEAN region. Despite a slight decline in shipments to Mexico, the US-Mexico-Canada Agreement continues to provide duty-free access for U.S. pork, underscoring the importance of market diversification.

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

Original content

Exports of U.S. beef and pork posted year-over-year increases in October, according to data released by USDA and compiled by the U.S. Meat Export Federation, with pork exports well positioned to set annual volume and value records in 2024. October beef exports totaled 105,269 metric tons (mt), up 1% from a year ago, while value increased 3% to $860.4 million. Shipments to Mexico maintained their solid 2024 performance in October, while exports rebounded to South Korea and China/Hong Kong. For January through October, beef export value was 4% above last year at $8.68 billion, despite a 2% decline in volume (1.066 million mt). “It’s encouraging to see an uptick in demand for U.S. beef in China and Korea, where the economic headwinds have been formidable this year,” said USMEF President and CEO Dan Halstrom. “Our Western Hemisphere markets have been outstanding, and exports have also expanded to the ASEAN region. So if U.S. beef can regain momentum in these larger Asian destinations, ...

Source: Provisioner