By Emmy Powell
Communications Specialist
U.S. beef exports have set new volume and value records while topping $1 billion for the fourth month this year, according to the U.S. Department of Agriculture (USDA) and U.S. Meat Export Federation (USMEF).
In May, beef exports were up 1% from the previous high in May 2021, reaching 135,006 metric tons (mt). Export value increased to $1.09 billion, breaking the record from March 2022.
Beef exports from January to May increased by 4% over last year’s volume to 613,266 mt, valued at $5.14 billion.
Exports to South Korea, Japan and China/Hong Kong each topped $1 billion through May. Shipments to Taiwan, the Caribbean, the ASEAN region, the Middle East and Central America, trended higher, as well.
“For U.S. beef exports to maintain a $1 billion-per-month pace is tremendous under any circumstances, but it is especially remarkable given the strong U.S. dollar, continued shipping and logistical challenges and the economic uncertainty our industry and international customers face today,” USMEF President and CEO Dan Halstrom said. “Across a wide range of markets, the momentum for retail beef sales achieved during the pandemic continues, and it’s now complemented by a strong rebound in the foodservice sector. May volume was actually down slightly to both Japan and South Korea, and yet exports still set a new record. That’s a great indication of soaring, broad-based demand for U.S. beef.”
In May, pork exports measured 224,677 mt, which is down 21% from last year but the highest volume since November 2021. The value of pork exports in May was $655.1 million, which is a 24% decrease from last year but also the highest since November. Through May, exports were down 20% from a year ago to 1.07 million mt, and the value went down 18% to $3 billion.
Pork exports to Mexico and the Dominican Republic are on a record pace in 2022. May exports to Columbia were high, and chilled exports increased to Japan and South Korea, despite challenges.
“On the pork side, exports are still trailing the enormous totals from the first half of last year, but we’re seeing upward momentum in several markets,” Halstrom said. “Shipments to Mexico are on a record pace and demand is strong across most of the Western Hemisphere. China’s hog prices have increased about 40% since mid-June, which supports our forecast for some rebound in China’s demand for imported pork toward the end of the year. Even when China pulls larger volumes from other suppliers, this has a positive impact for U.S. pork in a number of international markets.”
For more information about beef and pork exports, visit usmef.org.