Beef exports hold value despite September setbacks - USMEF
Mexico and Central America support year-to-date gains
Although beef exports to South Korea took a step back in September, shipments to the US industry’s leading value market remained above last year’s pace through the first three quarters of the year. September exports totalled 14,810 mt, down 18% from a year ago, according to a recent market report from the US Meat Export Federation (USMEF).
Meanwhile, value fell 20% to $139.3 million. January-September exports were 5% higher in both volume (177,717 mt) and value ($1.69 billion).
Beef export volume to Central America also trended lower in September (1,482 mt, down 27%) but value still increased nearly 10% to $16.4 million. Led by growth in Costa Rica, Guatemala, Honduras and Belize, January-September exports to the region increased 2% year-over-year to 16,002 mt, while export value soared 31% to $150.6 million. With an entire quarter remaining, export value to Central America is already approaching 2024’s full-year record of $160.2 million.
September beef exports to Mexico increased 5% from a year ago in value ($117.3 million) despite a 14% decline in volume (16,862 mt). Through the first three quarters of the year, exports to Mexico were down 11% to 154,694 mt, while value fell just 4% to $974 million. Although Brazil’s beef exports to Mexico peaked in June at about 16,000 mt, the presence of Brazilian beef remains substantial. The most recent data available is from November, with Brazil’s shipments to Mexico still approaching 9,000 mt. Brazil is now the largest supplier of beef muscle cuts to Mexico.