U.S. beef exports were record-breaking in 2022 but slowed late in the year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). This trend continued in January, as shipments were well below the large totals from a year ago.
Beef exports declined to several major destinations in January, though shipments increased sharply to Mexico, the Dominican Republic, the Philippines and Africa. January volume fell 15% year over year to 100,942 metric tons (mt), valued at $702.3 million (down 32%).
Beef inventories swelled in some key markets near the end of last year, contributing to a challenging environment for U.S. exports.
“While beef exports are off to a slow start in 2023, we remain optimistic that post-COVID food service demand will strengthen in additional markets as the year progresses,” said USMEF President and CEO Dan Halstrom.
Lamb exports
January exports of U.S. lamb muscle cuts totaled 222 mt, up 161% from the low year-ago volume, while export value essentially doubled to $1.1 million (up 99%). Growth was led by strong increases to Mexico and the Caribbean, while shipments were also higher to Canada and Guatemala. — USMEF
