U.S. beef exports slowed in November, recording the third lowest value of 2023, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). November lamb exports also trended lower.
Beef exports totaled 99,029 metric tons (mt) in November, down 14% from a year ago and the second lowest of the year, while value fell 7% to $786.2 million. For the first 11 months of the year, beef exports were 13% below the record pace of 2022 at 1.18 million mt, while value declined 17% to $9.11 billion.
Beef exports increased year-over-year to Mexico, Central America, the Dominican Republic and Hong Kong, but trended significantly lower to South Korea, Japan and China. Exports to Taiwan were below the record levels of 2022 but did not decline as sharply as in the larger Asian markets.
“There are certainly bright spots for U.S. beef, with exports rebounding in Mexico and demand in several Western Hemisphere markets the strongest we’ve seen in years,” said USMEF President and CEO Dan Halstrom. “But economic conditions in our largest Asian markets and the sharp rebound in Australian production and exports have been persistent obstacles over the past year, making it a sharp contrast with the tremendous 2022 performance for U.S. beef exports. “
He added, “Despite these challenges, we still see sustained demand for chilled U.S. beef, and the U.S. remains the dominant supplier of chilled beef entering Korea, Japan and Taiwan.”
Lamb exports trending lower
November exports of U.S. lamb totaled 115 mt, down 64% from a year ago, while value fell 50% to $817,000. January-November exports were 18% below the previous year’s pace at 2,169 mt, while value was 17% lower at $11.5 million. Exports trended higher to Costa Rica, Guatemala, the Netherlands Antilles and Barbados, but these gains were offset by lower shipments to Mexico and Canada.
A detailed summary of the January-November export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website. — USMEF
