While January beef exports were slightly below last year’s volume, export value trended significantly higher, according to January data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Lamb exports were also strong in January, posting the highest value in more than four years.
January beef exports totaled 99,764 metric tons (mt), down 1% from a year ago. But export value climbed 9% to $763.8 million, as value trended higher year-over-year to South Korea, Japan, Mexico, Canada, Central America, the Caribbean and Hong Kong. Beef variety meat exports increased 12% from a year ago to 23,138 mt, while value climbed 16% to $89 million, led by growth in Japan, Egypt, Mexico, Korea, Peru and China/Hong Kong.
“While USMEF expects 2024 to be another challenging year in terms of beef supply availability, the upward trend in export value is a positive sign,” said USMEF President and CEO Dan Halstrom. “The inventory has been cleared and customers in Asia are reloading on U.S. beef. There is also more optimism in Asia’s foodservice sector, especially in Korea. Combined with the recent strength we’ve seen in the Western Hemisphere, this bodes well for beef demand in the coming year. January was also an excellent month for beef variety meat exports, which are especially important for maximizing the value of every animal.”
Lamb exports largest in 10 months
January exports of U.S. lamb totaled 303 mt, up 28% from a year ago and the largest since March. Export value increased 53% to $1.7 million, the highest monthly value since December 2019. Export growth was led by the Caribbean and Canada, while exports to Mexico also increased year-over-year in value.
A detailed summary of the January export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website, usmef.org. — USMEF
