A strong export market in March provided increased per-head-slaughtered value to U.S. livestock producers at nearly $71 for pork and more than $450 for beef.
These market numbers were steady compared with last year’s volume and edged higher in value, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While beef exports were below last March’s large volume, export value was the highest since June 2023.
According to USMEF President and CEO Dan Halstrom, a rebound in food service in key markets like Korea and Japan, along with a diversified demand for pork led to the strong month of red meat exports.
Pork exports totaled 260,430 metric tons (mt) in March, up 0.1% from a year ago, valued at $740.8 million – up 2% year-over-year and the seventh highest on record. March shipments to South Korea were among the largest on record, while exports also increased substantially to Central America, Colombia, Oceania, Vietnam and Malaysia.
“The timing of this couldn’t be better,” Halstrom says. “We know that with higher input costs in the supply chain and specifically for the producers on the farm it’s good to have a little bit of good news on the value side of the meat products.”
Through the first quarter, pork exports increased 6% to 762,784 mt, while export value climbed 7% to $2.11 billion. Although shipments to leading market Mexico trended lower in March, first-quarter exports to Mexico were still ahead of last year’s record pace.
The third largest volume in record to the Caribbean, including an all-time high to the Dominican Republic, and shipments to the Middle East strengthened significantly in March bringing beef exports to 108,218 mt, down 10% from 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. While March volumes to South Korea and Mexico were below last year, export value still trended higher
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.
