U.S. beef exports set new volume and value records in May, topping $1 billion for the fourth time this year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. lamb exports continued to trend higher, led by growth in the Caribbean and Mexico.
May beef exports reached 135,006 metric tons (mt), up 1 percent from the previous high posted in May 2021. Export value climbed 20 percent to $1.09 billion, breaking the March 2022 record. For January through May, beef exports increased 4 percent from a year ago to 613,266 mt, valued at $5.14 billion (up 34 percent). Exports to leading markets South Korea, Japan and China/Hong Kong already topped $1 billion each through May, while shipments also trended significantly higher to Taiwan, the Caribbean, the Association of Southeast Asian Nations region, the Middle East and Central America.
“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,” said USMEF President and CEO Dan Halstrom.
“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 food service 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.”
Positive momentum for lamb
May exports of U.S. lamb increased 35 percent from a year ago to 1,856 mt, while export value climbed 40 percent to $2.55 million. Lamb muscle cut exports posted robust growth in Mexico and the Caribbean, led by the Netherlands Antilles and Dominican Republic. January-May lamb exports increased 46 percent from a year ago to 8,368 mt, while value jumped 68 percent to $12.5 million. Muscle cut exports increased 80 percent in volume (875 mt) and 84 percent in value ($5.2 million).
A detailed summary of January-May export results, including market-specific highlights, is available on the USMEF website. — USMEF
