November was an exciting month for U.S. red meat, with year-over-year gains across all categories, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Record Pace for Pork Exports
“U.S. pork exports remained on a record pace, while beef and lamb shipments also increased substantially from November 2023,” USMEF wrote.
- Pork export value increased 6% in November to just under $783 million while pork exports came in at 272,141 metric tons (mt), up 5% from a year ago.
- These results included an especially strong month for pork muscle cut exports, which increased 6% to 221,652 mt.
- Muscle cut export value was the third highest on record at $671.4 million.
- Export value per head slaughtered was $72.20 in November, up 9% from a year ago and the highest since April.
“Another terrific month for pork demand in Mexico and throughout the Western Hemisphere,” USMEF President and CEO Dan Halstrom said in a release. “It was also encouraging to see exports trend higher to Japan and sustain strong growth in Oceania and Southeast Asia.”
Pork exports were also up 5% year-over-year in volume (2.76 million mt) in the first 11 months of the year, USMEF noted, and up 6% in value ($7.85 billion).
“When December results are available, exports will exceed 3 million mt for the first time, topping the previous high (2.98 million mt) reached in 2020,” USMEF shared. “Export value will exceed $8.5 billion, easily surpassing the 2023 record of $8.16 billion.”
Pork exports to Central America and Colombia already set annual records and exports are on a record pace to Mexico and the Caribbean. Export value will also be the highest on record for Oceania.
“The theme on pork — broad-based growth across many markets — looks to be continuing as we go into early 2025 as well,” Halstrom said on the USMEF Audio Report.
Beef Exports Increase
November beef exports increased 10% year-over-year to 109,288 mt, while value climbed 11% to $872.7 million, USMEF said.
- Export value per head of fed slaughter equated to $428.70 in November, up 13% from a year ago and the highest since June.
- For January through November, beef exports increased 5% in value ($9.56 billion) from the same period in 2023, despite a 1% decline in volume (1.18 million mt).
“Despite continued economic headwinds in Asia, November demand for U.S. beef strengthened in South Korea, China and Taiwan, and exports were fairly steady to Japan,” Halstrom said in a release. “The strong performance in Mexico and outstanding demand for variety meat in Egypt were also critical for bolstering carcass value.”
November ushered in substantially higher beef exports year-over-year to the Caribbean, ASEAN and Central America.
“Look at Latin America, Mexico in particular, also continues to be strong,” Halstrom said in the USMEF Audio Report. “And if you look at the variety meat side, Egypt had a huge month.”
A detailed summary of the January-November export results for U.S. pork, beef and lamb, including market-specific highlights, is available from the USMEF website.
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