March exports of U.S. pork had been the most important since Could 2021, in response to knowledge launched by USDA and compiled by the U.S. Meat Export Federation (USMEF). Whereas under final 12 months’s excessive quantity, March beef exports had been the most important since October.
March pork exports totaled 260,195 metric tons (mt), up 17% year-over-year and the ninth largest quantity on report. Export worth was additionally ninth largest at $724 million, up 18% from a 12 months in the past. These outcomes capped a robust first quarter for U.S. pork as exports reached 716,691 mt, up 14% from a 12 months in the past, valued at $1.96 billion (up 15%).
For Mexico, March pork exports had been the second largest on report, whereas shipments to the Dominican Republic and Malaysia had been report giant. Exports additionally elevated to South Korea, Japan, the Philippines, Australia and Taiwan. Exports to China/Hong Kong, particularly, proceed to pattern properly above year-ago ranges, with first quarter shipments up 29% to 134,881. Export worth to the area elevated 26% to $352.2 million, primarily pushed by the sturdy development in selection meats, USMEF famous.
“It’s nice to see U.S. pork exports proceed to increase in a lot of our Western Hemisphere markets, however there may be additionally notable momentum within the Asia Pacific,” stated USMEF President and CEO Dan Halstrom. “With client exercise within the area rebounding towards pre-COVID ranges and U.S. pork very competitively priced in comparison with European product, 2023 holds glorious potential for broad-based development.”
In the meantime, beef exports totaled 120,495 mt in March, down 5% from a 12 months in the past. Export worth fell 17% to $892.6 million, however each quantity and worth had been the very best in 5 months. By way of the primary quarter, beef exports had been down 8% year-over-year to 326,494 mt, valued at $2.35 billion (down 22%).
March beef exports to Mexico had been properly above final 12 months, whereas export development to the Caribbean was highlighted by a report month for the Dominican Republic. Exports additionally elevated year-over-year to the Philippines, whereas beef selection meat demand strengthened in South Africa and Peru.
USMEF reported that demand for U.S. beef elevated dramatically in South Africa, the place first quarter exports almost tripled from a 12 months in the past to five,825 mt – up 184%. All however 33 mt had been beef selection meat as shipments of beef livers and kidneys have rebounded following challenges in 2022. Export worth to South Africa was up 206% to $6.3 million. With first quarter shipments of beef selection meats additionally rising to Cote D’Ivoire, whole beef exports to Africa had been up 84% from a 12 months in the past to six,816 mt, valued at $7.9 million (up 77%).
March exports to South Korea had been under final 12 months however had been the most important in 10 months, whereas exports to China/Hong Kong had been the most important since October at 21,211 mt.
“U.S. beef exports confronted appreciable headwinds late final 12 months and in the beginning of 2023, however the March outcomes present some encouraging developments,” Halstrom stated. “Most Asian markets confirmed renewed momentum in March, whereas exports continued to pattern larger to Mexico, the Caribbean and South Africa.”
