Beef exports were below last March’s large volume, but export value was the highest since June 2023, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
March beef exports totaled 108,218 metric tons (mt), down 10% from the large volume posted a year ago but still the highest of 2024. Export value was $889.9 million, down slightly from a year ago (-0.3%) but the highest in nine months. March export value equated to $454.62 per head of fed slaughter, the highest since mid-2022.
March highlights included the third largest volume on record to the Caribbean, including an all-time high to the Dominican Republic, and shipments to the Middle East strengthened significantly. While March volumes to South Korea and Mexico were below last year, export value still trended higher.
“Beef demand in the Caribbean was outstanding in March, and we continued to see a strong rebound in the Middle East as well as some positive signs in Korea and Japan, where the foodservice recovery is making progress,” said USMEF President and CEO Dan Halstrom. “It’s a challenging situation in terms of supply availability, but the value U.S. beef commands internationally is very encouraging—as evidenced by March export value climbing to more than $450 per head.”
January-March beef exports totaled 311,865 mt, down 4% from the first quarter of 2023, but export value increased 6% to $2.48 billion. Markets achieving first quarter value growth included South Korea, Mexico, Hong Kong, the Middle East, the Caribbean, Central America, Colombia, the Philippines and Singapore.
Lamb export volume lower
March exports of U.S. lamb were 35% below last year at 246 mt, while export value fell 5% to $1.5 million. But March shipments to the Caribbean, Mexico and Canada all trended significantly higher than a year ago. First quarter lamb exports fell 5% in volume to 819 mt, but value increased 19% to $4.7 million. Value growth was led by the Caribbean, Mexico and Canada, but exports also trended higher to Taiwan and the Association of Southeast Asian Nations. — USMEF
