
TL;DR: In March, US pork exports remained stable, while beef exports declined in volume but maintained high value. Lamb exports decreased significantly. Market diversification helped stabilise pork figures, despite varied performance across different meat sectors.
Pork Exports Hold Steady
In March, US pork exports showed resilience, maintaining last year’s levels. The US Department of Agriculture, together with the US Meat Export Federation (USMEF), reported that pork exports reached 260,430 tonnes, marking a slight increase of 0.1% from the previous year. The value of these exports rose by 2%, totalling $740.8 million. This places it as the seventh highest in historical records. Remarkably, the export value per head slaughtered hit $70.85, the peak in nearly three years.
Exports to South Korea set new highs, with significant rises also seen in shipments to Central America, Colombia, Oceania, Vietnam, and Malaysia. Despite a dip in exports to Mexico in March, the first quarter still surpassed last year’s figures, maintaining a record-setting pace.
Diverse Markets Aid Stability
Dan Halstrom, USMEF president, highlighted the benefits of diversifying export markets. Although Mexico saw a reduction, robust increases in other regions compensated, keeping the global figures strong. The export value surpassing $70 per head slaughtered brings positive news for pork producers and the industry’s entire supply chain.
Beef Exports Dip
Conversely, beef exports witnessed a decline, falling 10% to 108,218 tonnes compared to last year’s high volumes. However, the export value, despite a minor decrease of 0.3%, reached $889.9 million, the highest in nine months. The value per head of fed slaughter stood at $454.62, the most since mid-2022.
Significant volumes reached the Caribbean, setting the third-highest record, with a new peak in the Dominican Republic. The Middle East also saw a strong uptick in shipments, although volumes to South Korea and Mexico were lower than the previous year.
Encouraging Signs Amid Challenges
Halstrom expressed optimism about beef demand in the Caribbean and the Middle East, noting signs of recovery in food services in Korea and Japan. Despite supply challenges, the international demand for US beef remains encouraging, supported by the high export values recorded in March.
Lamb Exports Decline
March also saw a decrease in US lamb exports, which dropped 36% to 246 tonnes. The export value fell by 5% to $1.5 million. However, there was an upward trend in shipments to the Caribbean, Mexico, and Canada.
The data illustrates the complexities of the meat export market, with pork showing strength through diversity and beef encountering challenges but still holding strong in value. Lamb exports face difficulties, but specific markets show growth potential.