US beef demand climbs in Asian markets

Published Sep 6, 2024

Tridge summary

U.S. beef and pork exports experienced significant growth in July, with beef exports increasing by 7% in volume and 12% in value, reaching the second highest of 2024. Pork exports rose by 10% in volume and 13% in value, setting a record for shipments to Mexico. From January to July, beef export value increased by 6%, despite a 2% decline in volume, and pork exports were 4% above last year, with export value just under $5 billion, up 6%. Japan, Taiwan, and the ASEAN region drove the growth in beef exports, while Mexico and Central America led the increase in pork exports. Lamb exports also saw a 13% increase in value in July.

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

Original content

Exports of U.S. beef continued to build momentum in July, according to data released by USDA and compiled by the U.S. Meat Export Federation. Pork exports were also well above year-ago levels in July, led by a value record for shipments to Mexico. July beef exports totaled 110,419 metric tons, up 7% from a year ago and the second largest of 2024. Export value climbed 12% to $910.9 million, also the second highest this year. For January through July, beef export value increased 6% from a year ago to $6.13 billion, despite a 2% decline in volume (754,152 mt). “It is very gratifying to see demand for U.S. beef trending upward in Asian markets, with Japan and Taiwan leading the way and an outstanding showing in the ASEAN region,” said USMEF President and CEO Dan Halstrom. “U.S. beef has weathered severe headwinds in Asia and especially in Japan, but the outlook for the remainder of the year is encouraging. July was also another impressive month for Mexico, which continues to display ...

Source: Provisioner