United States: Beef exports below year-ago, according to the USMEF

Published Apr 11, 2023

Tridge summary

US beef exports experienced a 9% decrease in volume and a 24% decrease in value for the first two months of the year compared to the previous year. Despite this, there was a modest rebound in beef exports to Asia, with steady volume in Japan and South Korea and a trend towards increase in Mexico. Lamb exports also saw a rise in both volume and value, particularly in Mexico and other countries. The Mexican market is expected to become more competitive with the recent opening of its market to beef imports from Brazil.

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

Original content

For the first two months of the year, exports were down 9% from last year’s large volume to just under 206,000 mt, while export value dipped 24% to $1.46 billion. "On the beef side, it was encouraging to see a modest rebound compared to January", said USMEF President and CEO Dan Halstrom. "With Asian markets continuing to ease indoor mask mandates and eliminate travel restrictions, we expect to see a continued boost in restaurant traffic and foodservice demand as the year progresses". Beef export volume steady to Japan and Korea, trends higher to Mexico February beef exports to Japan edged modestly higher in volume, increasing 1% from a year ago to 23,876 mt, while value fell 19% to $161.7 million. For the first two months of the year, exports to Japan were steady with last year at 46,332 mt, but were down 20% in value to $306.6 million. Exports to South Korea followed a similar trend, edging slightly higher in February to 19,382 mt (up 2%), but value declined 22% to $153.3 ...

Source: EuroMeat