U.S. pork exports topped year-ago totals for the second consecutive month in September, in line with knowledge launched by USDA and compiled by the U.S. Meat Export Federation. September beef exports had been beneath final yr for the primary time in 2022, however exports stay on a file tempo by means of the primary three quarters of the yr.
Pork exports reached 222,202 metric tons in September, up 1% from a yr in the past. Export worth elevated 9% to $664.8 million – the very best since June 2021. By means of September, pork exports had been 13% beneath final yr at 1.94 million mt, valued at $5.57 billion (down 11%).
September pork exports had been as soon as once more led by Mexico, although shipments slipped beneath year-ago quantity for the primary time since early 2021. Exports rebounded to Japan, strengthened to China/Hong Kong and South Korea, and continued on a file tempo to the Caribbean and Colombia.
“It is very encouraging that U.S. pork exports proceed to realize momentum, particularly on the worth facet,” stated USMEF President and CEO Dan Halstrom. “As soon as once more we see the significance of market diversification, because the robust September efficiency was achieved whilst the amount shipped to Mexico eased to some extent.”
September beef exports totaled 115,487 mt, valued at $890.3 million, down 7% from a yr in the past in each quantity and worth. For the primary 9 months of 2022, beef exports had been nonetheless 4% above final yr at 1.12 million mt. Export worth reached $9.12 billion, up 20% and already attaining the second highest whole for any calendar yr, trailing solely the 2021 file ($10.58 billion).
Regardless of China’s zero-COVID insurance policies that lead to journey restrictions and periodic lockdowns in metropolitan areas, September beef exports to China/Hong Kong had been nonetheless above final yr. Shipments additionally elevated year-over-year to the ASEAN area and Caribbean, however declined to Korea, Japan and Taiwan.
Whereas beef exports stay well-positioned to achieve new heights in 2022, the September outcomes mirrored vital headwinds which were constructing for a while.
“Demand for U.S. beef has been extraordinarily resilient, however inflationary stress on customers and weakened currencies in key markets have positively created a tougher surroundings,” Halstrom stated. “Exports additionally proceed to face logistical challenges, lockdowns in China and mounting inventories in some locations. Nonetheless, it is arduous to view September gross sales of practically $900 million as a disappointment, when this is able to have been an all-time file simply 18 months in the past. That actually drives house what a outstanding yr this has been for U.S. beef exports.”
Following a down month, September exports of U.S. lamb muscle cuts rebounded to 269 mt, up 175% from final yr’s low quantity. Export worth totaled $1.31 million, up 67%. By means of September, lamb muscle lower exports elevated 76% to 1,676 mt, valued at $9.9 million (up 68%), led by a near-doubling of exports to the Caribbean.
An in depth abstract of the January-September export outcomes for U.S. beef, pork and lamb, together with market-specific highlights, is out there from the USMEF web site.
Supply: U.S. Meat Export Federation, which is solely liable for the data supplied, and wholly owns the data. Informa Enterprise Media and all its subsidiaries aren’t accountable for any of the content material contained on this info asset.
