US pork export value sets annual record; strong finish for beef exports

Published Feb 8, 2024

Tridge summary

U.S. pork exports hit a record value of $8.16 billion in 2023, driven by a record-breaking performance in Mexico and growth in other markets, despite a challenging year for U.S. beef exports in Asian markets. Pork exports to South Korea, South America, Oceania, and the ASEAN saw significant increases. Beef exports had a mixed performance, with increases in Central America, the Dominican Republic, Peru, and Africa, but declines in South Korea, China, Taiwan, and Japan. Lamb exports also declined, but liver exports saw growth in several African countries.

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

Original content

Led by a record-shattering performance in Mexico and broad-based growth in other markets, U.S. pork exports set a value record in 2023, according to year-end data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While 2023 beef exports were below the record totals posted the previous year, December exports were the largest since August and December export value increased 10% year-over-year. December pork exports climbed nearly 10% from a year ago to 268,399 metric tons (mt), the largest since May 2021 and the eighth largest on record. Export value increased 11% to $765.8 million, also the highest since May 2021 and the third highest on record. While December exports trended higher in many key markets, Mexico was once again the star performer, setting records for both volume (105,451 mt) and value ($233.8 million). The strong December results pushed 2023 export value to a record $8.16 billion, up 6% from 2022. Export value per head slaughtered also set an ...

Source: Usmef