USMEF: Beef exports in the US in August trend higher to Mexico, Taiwan, Middle East, but lower overall

Published Oct 17, 2024

Tridge summary

In August, U.S. beef exports faced mixed results across various markets. While exports to Mexico, Taiwan, and the Middle East showed growth, with notable increases in the Middle East and ASEAN region, major markets like Japan, South Korea, and China/Hong Kong experienced declines. The detection of H5N1 in dairy cows led to restrictions that severely impacted exports to Colombia, though these restrictions have been lifted, and efforts are underway to rebuild demand. Despite these challenges, the overall export value per head of fed slaughter saw a slight decrease from the previous year, with exports representing a slightly lower percentage of total beef production compared to 2023.

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

Original content

"Beef demand in our major Asian markets seemed to lose a bit of momentum in August, but exports held up well to Mexico, Taiwan and the Middle East", said USMEF President and CEO Dan Halstrom. "The headwinds in Asia remain formidable, but we are encouraged by the region’s ongoing tourism rebound. The late-September removal of Colombia’s restrictions on U.S. beef is also a positive development. While this came too late to impact the August results, it will help bolster fourth-quarter demand in Latin America". Mexico’s demand for U.S. beef remained robust in August, with exports increasing 2% from a year ago in both volume (19,037 mt) and value ($113.2 million). For January through August, shipments to Mexico increased 13% to 153,591 mt, while value climbed 16% to $898.5 million. This included a strong increase in beef variety meat exports, which were up 15% to 81,816 mt, valued at $221.4 million (up 9%). Mexico is the largest volume destination for U.S. beef variety meat. Beef ...

Source: EuroMeat