Exports of U.S. beef, pork and lamb trended higher year-over-year in March, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef export value was the highest since June, while Latin American markets again fueled pork export growth. March exports of lamb muscle cuts were the largest in more than five years.
“Despite a great deal of uncertainty, global demand for U.S. beef remains robust and resilient,” says USMEF President and CEO Dan Halstrom, in a release. “The March export results confirm this, with demand trending higher in Taiwan and Mexico, reaching record levels in Central America and holding up well in Japan and Korea. Although we anticipate that China’s retaliatory tariffs and expired plant registrations will have a more drastic impact on April and May exports, the U.S. industry’s efforts to diversify markets and broaden U.S. beef’s global footprint are definitely paying dividends.”
March beef exports totaled 109,330 metric tons (mt), up 1% from a year ago, while export value reached $922 million – up 4% and the highest since June. Export value per head of fed slaughter was the seventh highest on record at $466.77.
First-quarter beef exports were slightly below last year’s pace at 310,368 mt, but increased 2% in value to $2.53 billion.
Pork exports trending up
“March was another spectacular month for U.S. pork demand in Mexico and Central America, but exports also rebounded nicely to Colombia and Korea,” Halstrom says. “Duty-free access has helped fuel pork exports to these key markets, where we continue to see heightened competition.”
The numbers showed an increase of 3% year-over-year to 269,344 mt, valued at $769.7 million (up 4%). Export value per head slaughtered was outstanding in March, reaching the second highest figure on record at $73.91, according to the report.
Mexico and Central America led the March export growth, while shipments to Colombia were the second largest on record. Exports to Korea, which had slowed significantly in recent months, were the largest in nearly a year, while shipments trended higher year-over-year to the Philippines and Cuba but slowed to Japan.
First-quarter pork exports were slightly above last year’s record value pace at $2.11 billion, but slightly lower in volume (754,488 mt).
Plant eligibility for China is less of an issue for U.S. pork than for U.S. beef, as China renewed most pork establishments in mid-March. Halstrom cautions that both pork and beef exports to China have since hit a wall due to China’s prohibitive duties, which now total 172% for U.S. pork and 147% for U.S. beef.
“Shipments already in the pipeline can still clear without the extra 125% tariff, provided they shipped before April 10 and arrive in China by May 13,” Halstrom explains. “But new business has been effectively halted until there is a de-escalation of the U.S.-China trade impasse.”
A detailed summary of the January-March export results for U.S. pork, beef and lamb, including market-specific highlights, is available from the USMEF website.
