Beef exports holding strong

U.S. beef exports again topped $1 billion in July and posted the fifth-largest volume on record, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports remained below last year’s pace but continued to gain strength in Colombia and the Caribbean and stayed above year-ago for Mexico, the leading destination for U.S. pork. 

Japan leads broad-based growth in July beef exports

July beef exports totaled 126,567 metric tons (mt), up 3% year-over-year. Export value increased 7% to $1.006 billion, topping the $1 billon mark for the sixth time this year. Japan was the pacesetter for July exports, but volumes also increased year-over-year to China/Hong Kong, the ASEAN region, Central America, the Caribbean and Colombia. July exports eased for South Korea and Taiwan, though both markets remain on a record pace in 2022.

For the first seven months of the year, beef exports increased 6% from a year ago to 870,471 mt, valued at $7.2 billion (up 29%).… Continue reading