August exports of U.S. pork topped year-ago totals for the primary time in 2022, in accordance with information launched by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports have been barely above final August’s giant quantity and once more topped $1 billion in worth, reaching this milestone in seven out of eight months this 12 months.
“We communicate typically concerning the significance of creating a variety of markets for U.S. purple meat, and the August export outcomes are an incredible illustration of that,” mentioned USMEF President and CEO Dan Halstrom. “Exports face important headwinds in some key locations, with weakened currencies topping the record. However the emphasis on broad-based progress actually pays dividends in these conditions, permitting the general export image to stay very optimistic. I additionally can’t say sufficient concerning the loyalty of our worldwide clients, lots of whom have diminished buying energy however proceed to point out a robust choice for U.S. purple meat.”
Pork exports led by progress in Mexico, Korea
Pork exports reached 226,293 metric tons (mt) in August, up barely from a 12 months in the past and the most important since November 2021, whereas export worth climbed 4% to $659.6 million. Pork selection meat exports have been the third largest on file in August at practically 53,000 mt.
August export progress was pushed by one other sturdy efficiency in main market Mexico and year-over-year will increase in South Korea, the Caribbean and the Philippines. For January via August, pork exports have been 15% beneath final 12 months at 1.72 million mt, valued at $4.9 billion (down 13%).
Fueled by strengthening demand for pork selection meat, USMEF reported a continued rebound in pork exports to China/Hong Kong. Exports totaled 55,695 mt in August, up 14% from a 12 months in the past, whereas export worth climbed 31% to $137.8 million. A lot of the quantity improve was within the selection meat class, for which exports have been file giant (34,831 mt, up 18%). However muscle reduce exports have been additionally 7% above final 12 months at 20,864 mt, the best since June 2021. For January via August, whole exports to China/Hong Kong remained 44% beneath final 12 months at 323,422 mt, with worth down 37% to $850.1 million.
Widespread progress bolsters beef exports
August beef exports totaled 133,832 mt, up 1% year-over-year and the second largest quantity on file – trailing solely Might 2022. Export worth was just below $1.04 billion, barely beneath the then-record whole achieved in August 2021, which was the primary time month-to-month exports topped the $1 billion mark.
August beef exports to China/Hong Kong have been record-large and shipments to main worth market South Korea exceeded final 12 months’s giant quantity. Exports additionally achieved strong progress within the Center East, Canada and the ASEAN area, which included a brand new file for shipments to the Philippines.
For the primary eight months of 2022, beef exports elevated 5% from a 12 months in the past to 1.004 million mt, valued at $8.23 billion – a exceptional 24% above final 12 months’s file tempo.
An in depth abstract of the January-August export outcomes for U.S. beef and pokr, together with market-specific highlights, is out there from the USMEF web site.
