April exports of U.S. pork achieved positive factors in a variety of markets, in response to knowledge launched by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports, however, had been under the very giant totals posted a 12 months in the past, however export worth per head of fed slaughter was the best in eight months.
Propelled by one other month of widespread progress, April pork exports totaled 243,789 metric tons (mt), up 15% from a 12 months in the past, whereas worth elevated 10% to $660.1 million. April exports to South Korea had been the most important in practically 4 years, whereas exports additionally trended increased to main market Mexico and to the ASEAN, the Dominican Republic, Australia, Taiwan and China/Hong Kong. Export worth per head slaughtered ($67.56) was the best since Might 2021.
For January via April, pork exports climbed 14% to 960,480 mt, valued at $2.62 billion (up 13%).
“Worldwide demand continues to be a constructive for the whole pork provide chain,” stated USMEF President and CEO Dan Halstrom. “Whereas Mexico stays a star performer for U.S. pork, it’s actually encouraging to see progress in lots of markets. Latin American demand has remained robust whereas the momentum for U.S. pork into the Asia Pacific area has additionally been rising. That is essential for maximizing carcass worth and producing income for an trade that’s going through tough financial circumstances.”
In the meantime, April beef exports had been 10% under final 12 months at 111,416 mt, whereas worth fell 18% to $859.5 million. Nevertheless, the share of manufacturing exported was regular with final 12 months and export worth per head of fed slaughter ($441.70) was the best since July.
Beef exports continued to achieve momentum in Mexico in April, whereas exports additionally elevated to South Korea, Europe and Africa. Exports to China/Hong Kong had been comparatively robust in April however shipments to Japan had been down considerably.
By means of the primary 4 months of 2023, beef exports had been down 8% in quantity (437,910 mt) and had been 21% decrease in worth ($3.21 billion) in comparison with final 12 months’s file tempo.
“With U.S. beef provides tightening, it’s tough to maintain tempo with the exceptional export totals posted within the first half of 2022, however exports proceed to account for the same share of manufacturing as final 12 months’s file,” Halstrom stated. “The rebound in journey and tourism – which is now gaining momentum in Asia – and associated foodservice alternatives proceed to assist beef demand. In some nations we’ve got additionally seen a current easing of the inflationary stress on shoppers’ discretionary revenue.”
Halstrom added that for each beef and pork exports, it’s crucial that West Coast port terminal operators attain a contract settlement with longshoremen.
“Whereas there was no formal strike or lockout, sporadic work stoppages on the West Coast are a serious concern for exporters and their worldwide prospects,” Halstrom stated. “That is very true for corporations delivery chilled beef or pork to Asia. For that enterprise, reliability and timeliness are paramount.”
An in depth abstract of the January-April export outcomes for U.S. beef, pork and lamb, together with market-specific highlights, is obtainable from the USMEF web site.
