US beef export value are higher than a year ago, led by strong variety meat results

January beef exports totaled 99,764 mt, down 1% from a year ago. But export value climbed 9% to $763.8 million, as value trended higher year-over-year to South Korea, Japan, Mexico, Canada, Central America, the Caribbean and Hong Kong. "While USMEF expects 2024 to be another challenging year in terms of beef supply availability, the upward trend in export value is a positive sign", said USMEF President and CEO Dan Halstrom. "The inventory has been cleared and customers in Asia are reloading on U.S. beef. There is also more optimism in Asia’s foodservice sector, especially in Korea. Combined with the recent strength we’ve seen in the Western Hemisphere, this bodes well for beef demand in the coming year. January was also an excellent month for beef variety meat exports, which are especially important for maximizing the value of every animal". While January beef exports to South Korea declined slightly from a year ago (18,789 mt, down 1%), export value increased 13% to $170.5 ...