U.S. beef exports maintained a remarkable pace in April, topping $1 billion for the third time this year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Beef exports totaled 124,408 metric tons (mt) in April, up 3 percent from a year ago and the fifth largest on record, while export value soared 33 percent to $1.05 billion—second only to the record $1.07 billion posted in March. April exports to Taiwan and the Philippines reached record highs, and exports increased to Japan, China/Hong Kong, Indonesia, the Middle East and the Caribbean.
For January through April, beef exports increased 5 percent from a year ago to 478,260 mt, valued at $4.05 billion (up 38 percent). For South Korea, the leading value destination for U.S. beef, export value already topped $1 billion, increasing nearly 50 percent from a year ago.
“Global demand for U.S. beef continues to overcome enormous obstacles, from inflationary pressure to logistical challenges to the recent lockdowns in some of China’s major metropolitan areas,” said USMEF President and CEO Dan Halstrom.
“Most encouraging is that even as beef exports climb to unprecedented levels in our largest Asian markets, demand is strengthening in other regions as well, fueled by a strong rebound in the food service sector.”
Halstrom cautioned that April results did not capture the full impact of recent COVID-19 lockdowns in China, some of which continued through May and into early June. The pressure inflation imposes on consumers’ discretionary income and the rising strength of the U.S. dollar versus some key trading partner currencies are also growing headwinds for U.S. red meat exports.
Strong April lamb exports
April exports of U.S. lamb increased 37 percent from a year ago to 1,493 mt, while export value soared 90 percent to $2.56 million. Growth continues to be driven by large variety meat exports to top market Mexico and revitalized muscle cut demand from the Caribbean food service sector.
January-April lamb exports increased 49 percent from a year ago to 6,512 mt, while value climbed 76 percent to just under $10 million. Muscle cut exports increased 87 percent from a year ago to 668 mt, while export value more than doubled to $4.3 million (up 105 percent).
A detailed summary of January-April export results, including market-specific highlights, is available at usmef.org. — USMEF
